Banks are notorious for requiring personal guarantees from the individuals that comprise the LLC and not just the LLC. In light of the lawsuit that has been filed it appears Wells Fargo has personal guarantees from Ferchill officials.
Agreed as to right now but during the previous fifteen years, banks rarely asked for a personal guarantee.
People made a lot of money, espescially on buildings in Detroit.
If you had a good appraiser--the sky was the limit
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