Home Forums Business and Legal Incorporating Business Advice Reply To: Incorporating Business Advice

#49760
Anonymous
Inactive

the members of a limited liability company are not liable in person, but only via the funded shares.
[/quote:276e42f58d]

This isn’t entirely true – If you try seeking a business loan from a bank I understand they will often get shareholders to give up some limited liability before approving a loan.

Banks love that because they can come after yourself as an individual to recover money in case the company can’t pay a loan.
[/quote:276e42f58d]

I am sure that a determined bank will attempt to recover their money by any means necessary, limited company or not.