Business Loans

As business owners, you and your partners are exposed to risks that should be managed and reduced. Insurance will cover you against most risks. Insurance considerations for partnerships include:

• Unlimited liability; your personal and business assets are at risk in case of court judgments. The partners can protect the business by buying general liability insurance and other employer-based liability insurance if hiring employees.
• A partnership ends if one of the owners dies, is injured and cannot perform his or her duties, or retires. The partners can protect themselves with a buy/sell agreement, as well as business life insurance, disability insurance, or health insurance.
• Is your partnership prepared for the general risks associated with business operations, such as vandalism, theft, collision, or injury?