Banks will not loan money to a new business entity without someone personally guaranteeing the loan or offering collateral. Regardless, he clearly over extende

Banks will not loan money to a new business entity without someone personally guaranteeing the loan or offering collateral. Regardless, he clearly over extended himself if he's facing bankruptcy after the failure of his business. I could see a line of credit large enough to cover payroll for 90 employees easily putting him in over his head.