Signing my first commercial lease and need advice... (credit, loans)

[imaginative]

Hi,

I'm going to be signing my first commercial lease this month and am trying to figure a few things out. First off, my business is an S Corp and has been in business for four years. I have established business credit, and my business is doing well. My landlord wants to attach my social security number to the commercial lease. Is this standard? I thought the reason I formed a Corp was to protect my personal finances from these situations.

Any advice would be most appreciated!

[Drover]

I don't know that it's standard but it's not uncommon for lenders to want a personal guarantee from a small business proprietor, even one that is incorporated. I would see this as being more common for unsecured loans and lines of credit... but for a property lease, I don't see why he'd want or need a personal guarantee for a company that is already on its feet. I'd look around some more if I were you.