? for those that has started their own business.

[Samckitt]

Do you do something like incorporate your business name or LLC it before borrowing money for equipment & put it in the business name? Or either way can they come after you personally if you can't pay the bills?

Never done my own business & am afraid to let go of my "security blanket", (normal job).

[DynoDon]

When I started my Hot Rod shop, Altered Engineering, I talked to a lawyer or two and did a bunch of research. The next thing I did was become an LLC. This offers more personal protection from creditors and liability issues then even a Corp.
Unless you essentially commit an act of intentional negligence, it is very difficult to have your personal property attached or someone go after you for liability issues.
Having said that, being a new business, you may have to sign a personal guaranty to get equipment loans.
I would do some research, and talk to a lawyer as every states laws vary, and look into the LLC regardless, as the last thing you need is to be personally sued and lose your house or whatever because you or an employee had a bad weld, left something loose etc.

[wmhjr]

If you're serious about wanting to protect your personal property, you need to talk to a lawyer. Liabilities can vary from state to state. Spending just a little bit now can save you a whole lot later. That's about the only advice I'd listen to from an online forum.