small business loan?

[lucyshandbag]

how does a small business loan work? if i were to take out one from a bank, and my business failed, would i be expected to pay back the loan with my own money or is there some kind of cover?

[Buenchico]

If you're running a business as a sole trader or in a partnership then, whatever financial agreements you enter into, you (as an individual) can be pursued for the debts of the business.

To avoid the possibility of being burdened with large debts, you should register the business as a limited company.

Chris

[Scarlett]

Make an appointment to see your small business adviser at your Bank. They are really good and will tell you all you need to know.

[K8eP]

For insurance, call Routen Chaplin (Derby Road, Long Eaton, NG10 4ER), on

0115 973 7302.

Lovely people there... I should like to know if Paul Duro still works in the commercial department... they had problems with him!!!

Yeh, ask for Christine, the rest are part-timers.