BETHPAGE, N.Y. (3/22/10)--A Bethpage FCU executive told Time magazine that there are some alternatives business owners should consider when putting up their personal assets to get a loan from a financial institution. Every year, millions of business owners put their personal assets on the line for loans, according to Time (March 18). If the business doesn’t thrive, then the owners are in danger of losing their assets. The article’s author, Gigi Berman, told the story of her husband, whose credit line was cut by his bank. The bank told him and his business partner they had nine days to pay back a seven-figure amount the bank had loaned him. To avoid situations like these, Bethpage (N.Y.) FCU senior vice president Michele Dean suggested pledging accounts receivable and asking for a guarantee that gets smaller each year as borrowers build a credit history. “There are other bargaining chips in lieu of or to reduce the personal guarantee that banks may not go out of their way to reveal,” she told the magazine.