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Thanks for reading! No, the only place where I was personally on the hook was credit cards, but that was fine because I just paid the balance and closed the ac
by mtlynch 2y ago
Thanks for reading!
No, the only place where I was personally on the hook was credit cards, but that was fine because I just paid the balance and closed the accounts.
I maybe had to give a personal guarantee to rent our office, but it was $600/mo and the landlord was extremely laid back and agreed to month-to-month after our lease was up.
I didn't take out any small business loans to start the business, as I started it with my own cash, and then it generated enough revenue to sustain itself.
The buyer may have had more complicated agreements with his lenders to purchase the business, but I wouldn't be exposed to any of that.