Weekly Business for Breakfast MeetUp: What Happens if I Can’t Repay my Loan?

Charter Members, General Members and non-members are all welcome to attend this weekly event!

Join Kira Spivak of VenturePack Finance, Gary Gomulinski of Citywide Banks and Ken Carlson, VP of Credit & Risk at P2Binvestor at the TiE Rockies Business for Breakfast Meetup: "What happens if I can't repay my loan?"

Don’t just stop cold at the words “personal guarantee.” CFO and owner of VenturePack Finance, Kira Spivak puts on her business owner hat to demonstrate the personal guarantee conversation business owners should be having with their lenders when applying for a loan. Kira will ask the tough questions and Senior VP of CityWide Banks, Gary Gomulinski, and Ken Carlson, VP of Credit & Risk at P2Binvestor will supply the answers.

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.

Come network and meet other professionals and get to know TiE Rockies, the best place for Colorado entrepreneurs. Free admission and coffee available for all attendees! Food available for purchase at the Innovation Cafe.