Went to a bank work out session (not for me). Moral of the story: Always think long and hard before you sign a personal guaranty. Deals always look so rosy when you first start the deal. Think about whether you can withstand the business imploding and your left standing with payments on the loan.

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The problem is most businesses / people have to much debt that sucks the life out of the cash flow. Also, a lot of people keep rolling their debt over and refinancing instead of working to pay it down. Nail down a fixed amortization loan.

The man/woman with a debt free business can take home a lot more cash without having to kill it to make a lot of revenue.

My favorite is a guy I know who started out pressure washing as soon as he got out of school. No business debt. Boy, I wish I had his networth. He kept branching out into other service and manufacturing ventures. 

Just my two cents worth.