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Shared SB Loan in partnership between US and Non-US citizen?
Dear readers,
I am fairly new to this forum so my apologies in advance if this thread ends up where it shouldn't belong or my question is too vague. :A
However, as the title explains. I am currently in the process of discussing a partnership with a friend overseas and start a food business in the US. Now the problem is that we will need some operating capital for that which we would like to get by applying for a small business loan lets say a $100K. (our personal investment will be around 30/40% of the loan)
Now my question is --> is it possible for a US citizen and a non-US citizen to share the ownership of the small business loan? (51% for the US citizen - 49% for the non US citizen for example)
Any (helpful) answers are appreciated!
Thanks,
Kevin
I am fairly new to this forum so my apologies in advance if this thread ends up where it shouldn't belong or my question is too vague. :A
However, as the title explains. I am currently in the process of discussing a partnership with a friend overseas and start a food business in the US. Now the problem is that we will need some operating capital for that which we would like to get by applying for a small business loan lets say a $100K. (our personal investment will be around 30/40% of the loan)
Now my question is --> is it possible for a US citizen and a non-US citizen to share the ownership of the small business loan? (51% for the US citizen - 49% for the non US citizen for example)
Any (helpful) answers are appreciated!
Thanks,
Kevin
0
Comments
-
Not in the UK. The US may be different, though I doubt it.
A joint loan would in any case be joint and several, not split.0 -
Many businesses start small then expand, some started off in kitchens/homes, can you not start off small then expand ?0
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