Malisa hiyo mutu ya Kumera kumera, kwani anajua hii mambo reo, @Meria Mata kuom
There’s no difference hata ukifungua kampuni. The bank still wants collateral when taking up a loan.
the asset you’re acquiring is the collateral plus the 10% or so (depending on your credit valuation) upfront payment required
In both cases collateral is a must.
trust me i know , the asset is the only collateral you need I’ve dealt with asset financing institutions for ages
only difference is that a bank can attach the personal assets like land, house or car of a sole proprietor in case of default but when it comes to Limited company the owners are legally responsible for its debts only to the extent of the amount of capital they invested.
- The bank will never come for anything from you that was not mentioned as collateral in the loan agreement.
- What you mention as “legally responsible for its debts only to the extent of the amount of capital they invested” is referred to as directors personal guarantee. Banks are clever in giving loans. They ensure that the loan is fully covered by assets of the company. Directors personal guarantee is normally just a by the way security.
Sasa,what have I done uniekee wanted,DOA?
Chunga sana elder statechieth… You need to know that tuktuk inakuwanga na drop-forged piperange. Dangerous weapon hiyo.
Tuambie TransEast niya nani. Special cargo wanabeba yote
mzito flani classified.
lakini boss ukiwa na kazi si unapatia the best quallified.
ukipea cowboys unaweza lilia kwa choo
"legally responsible for its debts only to the extent of the amount of capital they invested and directors personal guarantee are two very different things - just wondering if you have ever had an asset financed ?