Join Kira Spivak of VenturePack Finance, Gary Gomulinski, Senior Vice President of Commercial Lending at Citywide Banks and Ken Carlson, CFO of alternative lender P2Binvestor at the TiE Rockies Meetup: Biz4Breakfast at the Innovation Pavilion, Friday, June 2, 7:30 a.m, 9200 E Mineral Ave
Centennial, CO 80112. RSVP: Meetup – TiE Rockies Global Entrepreneurs  

Don’t just stop cold at the words “personal guarantee” or dare yourself to suck it up and sign. Not all personal guarantees are equal. CFO and founder of VenturePack Finance, Kira Spivak, puts on her business owner hat to demonstrate interviewing your lender about personal guarantees. Kira aims to empower small business owners by asking the tough questions and Senior Vice President of Commercial Lending at CityWide Banks, Gary Gomulinski, and Ken Carlson, CFO at alternative lender P2Binvestor will supply the revealing answers. Spivak aims to show some key differences in the way loans are guaranteed and how to evaluate the true risk in the event you can’t repay your loan. A handout will be provided with specific questions a business owner can ask the lender regarding the personal guarantee when they are applying for a loan.

• Are you going to file a lien on specific assets or a blanket lien on all of the assets of the company?
• How likely is the bank to work out a repayment plan vs. a liquidation of assets scenario?
• If for some unforeseen reason the business is unable to repay the loan, in what order (personal assets vs. business assets) would you attempt to collect on the debt?
• If you are accepting specific collateral (i.e. equipment), am I still able to get another loan using other collateral like receivables down the road?

Spivak aims to show the audience some key differences in the way loans are guaranteed and how to evaluate their true risk in the event they can’t repay their loan.