I'm thinking of starting a new business. I have some capital to invest, but will need a loan (around $50,000) to start up. This business is high risk, and so I'm worried what will happen if I'm not able to repay the loan. I was thinking of setting up a LLC and looking for a unsecured loan.
Is that possible? Can my newly formed LLC (which does not have any business credit) get a unsecured loan? Would I have to sign a personal guarantee when I get such loan for my business? Who would be willing to provide a unsecured loan to a newly established LLC?