When Your Partner Won’t Share the Loan
By Nina Kaufman, Esq.Yet another handy Q&A from Forbes Small Business, and this one featuring my colleague, Marian Banker. 🙂 What do you do when your company has expansion plans, but one of the partners refuses to co-sign a loan for the necessary funds?
Other than a long, hard discussion with your partner about being aligned on goals, the article suggests revisiting your respective ownership stakes in the company. After all, if you were 50-50 and you’re now taking on an additional substantial burden, that should be acknowledged.
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