Skip to main content
Asked a question last year

I understand that all owners with over or equal to 20% interest would have to personally guarantee a SBA loan. Our company is owned by an LLC (55%) and 6 others with less than a 20% ownership. Would the LLC that owns 55% apply for the loan (btw – they have no financials or cash account or anything) or would the owners who own more than 20% of the LLC have to apply?

Where am I?

In Multifunding SBA CoronaVirus Support you can ask and answer questions and share your experience with others!

ami kassar
CEO Multifunding LLC and author of The Growth Dilemma

You have to figure out anybody whose ownership passes through to at least 20%.  They will need to personally guarantee the loan, submit personal financial statements, and tax returns for review.