An executive may see a bankruptcy as a speed bump. Although, an entrepreneurs may see it as a wall. This is because, not only are their business assets at risk but also their personal assets.

Small business owners, not yet incorporated, all across the country are being forced to file since the economic downturn. In this situation, the court doesn’t see the difference between the owner/owners and the business.  Sole Proprietorship’s, Partnerships, and even Limited Liability Companies are facing these risk because their loan agreements often use their personal assets as leverage.

Lesley Hoenig, attorney of Mount Pleasant, Michigan, States that In a sole Proprietorship, “you can’t say, I’m just filing bankruptcy for the business”. This is because there is “no” business, because its not incorporated.

In 2009 “Total Bankruptcy filings rose 36% to 711,550 in during the first half of [2009] compared with 522,205 cases filed over the same period in 2008″ according to WSJ.com

Many Similar business across the country are victims of losing their personal assets e.g. their homes and cars. This is because many entrepreneurs don’t foresee bankruptcy and are not prepared, this is likely due to the fact that most entrepreneurs try to remain optimistic and have faith in their business. Never the less, when operating a small business or a unincorporated business one must consider the risks in depth, despite the negative perspective. The cliche “Hope for the best, plan for the worst” is an effective mantra in this situation.

Many unincorporated businesses may only have one viable option before filing a bankruptcy, if the business does except credit cards, and that’s a business cash advance. A business cash advance, will not require personal assets, but only the future credit card sales. Many business owners may be able to use the funds to square away any kinds of debts they have or to thwart off other loan agreements by traditional banks. Another advantage is that the business owner may find the loan more affordable than a traditional bank loan because the payment is a fixed percentage of credit card sales, rather than a fixed payment. With a fixed payment, you may come closer to bankruptcy and that is because fixed payment plans are not considerate of earnings monthly, where as a business cash advance is.

If you are a sole proprietor, partnership, or limited liability company that foresee any future risk, it is more optimal use a business cash advance rather than rely on traditional bank loans. Why have your home, cars or any other assets at risk?  EZ Business loans offers a solution that can secure your assets and EZ Business loans can take the risks so you don’t have to.