How a Fundraising Business Hired a Lawyer to Review a Commercial Loan in California
See real project results from ContractsCounsel's legal marketplace — this project was posted by a Fundraising business in California seeking help to review a Commercial Loan. The client received 3 lawyer proposals with flat fee bids ranging from $350 to $950.
Review
Commercial Loan
California
Business
Nonprofit
Over a week
$350 - $950 (Flat fee)
3 bids
3 pages
How much does it cost to Review a Commercial Loan in California?
For this project, the client received 3 proposals from lawyers to review a Commercial Loan in California, with flat fee bids ranging from $350 to $950 on a flat fee. Pricing may vary based on the complexity of the legal terms, the type of service requested, and the required turnaround time.Project Description
Need help with a Commercial Loan?
Lawyers that Bid on this Commercial Loan Project
Attorney/Counsel
4 years practicing
Free consultation
Contract, M&A, E-Commerce Attorney; Contract Dispute and Dispute Resolution Specialists
26 years practicing
Free consultation
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Commercial Loan
Texas
Can a commercial lender require personal guarantees from the owners of a business when granting a commercial loan?
I am a small business owner looking to secure a commercial loan to expand my operations. I have been approached by a lender who is willing to provide the loan, but they are requiring personal guarantees from all owners of the business as a condition for approval. I am hesitant to provide personal guarantees as it puts my personal assets at risk. I would like to know if it is common and legally permissible for commercial lenders to require personal guarantees in such situations, and if there are any alternatives or negotiation strategies to minimize personal liability.
Darryl S.
Personal guarantees are common for many small business loans and are often required to secure the loan. Requiring a personal guarantee is legally permissable.