Business Loan Repayment

The assets of a small business may be needed to repay outstanding business loans, upon the death of an owner. This planning method protects the personal assets of an owner, in the event of death, while a business loan is outstanding.

In order to obtain a business loan, many times a small business owner is required by a lending institution to personally guarantee repayment. When a small business owner provides a personal guarantee of a loan, the business owner's personal assets could be in jeopardy if that owner dies while the business loan is outstanding. Even in the absence of a personal guarantee, a creditor may require assurance that the loan will be repaid by the business, if the owner dies.

Advanced planning can help to minimize the negative financial impact upon the business, the deceased owner's family and upon any other owners.

To set an appointment to discuss your individual situation, please call us at (800) 925-2050. Alternatively, you can complete our short form, to obtain specific information.