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Asked a question 2 years ago

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?

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