Are founders typically completely on-hook for business loans, when a business fails?

What are the pros and cons of business loans?

Weighing the Pros and Cons

Benefits of Business Loans	Drawbacks of Business Loans
Can fuel business growth	Long application process
Keep your equity	Could lose assets if you default on payments
Increase available cash	Will need a strong credit score
Money can be used for a wide variety of purposes	May take months to get money