Hi all
I am a committee member for a social club.we are non salaried and deal with the finances of the club. We have applied for a secured loan of 200000 against the club property which is valued at around 1 million and have been told they would like 3 committee members to be guarantors. We are not comfortable against signing can anyone throw any light on the risk we would be taking?
Thanks
I am a committee member for a social club.we are non salaried and deal with the finances of the club. We have applied for a secured loan of 200000 against the club property which is valued at around 1 million and have been told they would like 3 committee members to be guarantors. We are not comfortable against signing can anyone throw any light on the risk we would be taking?
Thanks