How to Deal with Borrowing Funds for Your Business | Insight CA Limited
Close

Will borrowing funding for my business expose me to greater personal risk?

Will borrowing funding for my business expose me to greater personal risk?

If you go to your bank, yes, your bank will likely require you to secure personal assets (i.e your house) against the loan, exposing your personal assets to risk as the banks want greater security. If you need to borrow funding for business asset purchases, consider using a second-tier lender that secures the funding against the specific asset, or ask your own bank if securing the funding against a specific asset is an option. You’ll pay more in terms of interest, but the risk to you is a risk around that specific asset, not around your house.

If you’re concerned about your personal financial risk as a business owner, please feel free to reach out. I’m only a message or call away (09-309-3222).
Connect

Related Posts

New Zealand business Covid 19 Relief Options Update

New Zealand business Covid 19 Relief Options Update

COVID-19 Business Relief Options announced by the Government have recently been extended for any New Zealand business...

Will borrowing funding for my business expose me to greater personal risk?

Will borrowing funding for my business expose me to greater personal risk?

If you go to your bank, yes, your bank will likely require you to secure personal assets...

Are you working ‘on’ your business or ‘in’ your business?

Are you working ‘on’ your business or ‘in’ your business?

Are you trying to do everything by yourself? How much of what you do could be done...

Worried about business continuity?Our new SME Research features up-to-date insights to help you de-risk your business.