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| ▲ | hattmall an hour ago | parent | next [-] |
| >Why would you ever sign a personal guarantee? So that they will lend you the money... It's not always required, depends on the amount and the business. |
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| ▲ | detourdog 4 hours ago | parent | prev | next [-] |
| The liability I’m shielded from is not debt I specifically requested. I’m shielded from unknown events. |
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| ▲ | hrimfaxi 3 hours ago | parent [-] | | Why would the CEO have the personal liability here and not the board? Does Sundar Pichai have to personally guarantee loans for Google? That would be weird since the CEO could be fired. | | |
| ▲ | svnt 2 hours ago | parent [-] | | No, but this person’s LLC is not capitalized quite as well as Google, and the bank is adjusting the loan to account for that fact. |
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| ▲ | bdangubic 5 hours ago | parent | prev [-] |
| banks are not stupid… you can’t just open LLC, borrow billion bucks, spend it and then be like “oops, LLC mates, not liable” |
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| ▲ | htrp 4 hours ago | parent [-] | | You can if you are Meta and are willing to litigate the hell out of it. | | |
| ▲ | notatoad 2 hours ago | parent | next [-] | | “If you are meta” in this case means “if you have a billion dollars already, and a credit rating that you don’t want to destroy. Nobody is trying to pull one over on a bank here. Pricing the risk of the loan is a bank’s whole business, they’re happy to loan to meta because meta is meta, and they’re a good candidate for a loan. | |
| ▲ | hrimfaxi 3 hours ago | parent | prev | next [-] | | Do you think any CEOs of gigantic corporations are personally liable for any loans made by the companies they work for? I would be incredibly, incredibly surprised to hear if that's the case. | |
| ▲ | svnt 2 hours ago | parent | prev | next [-] | | More like if you are Meta and are viewed as a lucrative business opportunity by the bank. | |
| ▲ | YetAnotherNick 2 hours ago | parent | prev [-] | | Then why don't they do it? It's the easiest money they can ever make. Even I can litigate the hell out of it if I get $27B, take the money and close the LLC. |
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