Mary asks…What happens if you can't pay back a business loan?I want to start a small business of my own but I am hesitate to even try to get started. I think I have a plan that will work but I am going to have to get a loan to make it happen. I just want to know, what happens if I can't pay it back? Will I have to personally file bankrupt of what?admin answers:Most banks will make you personally sign for loan.
Hopefully you have a good credit score.
Have a plan for a slower than expected
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