Does anybody know... If you own an LLC and take out a loan under that LLC, are you personally responsible for paying the debt back? Or, is that strictly business debt? If the business goes under, are the owners responsible for paying it back? Thanks on advance!

You will likely have to sign as a personal guarantor as well, making you liable. If it is strictly the business, which isn't likely, then you're not personally liable.

YES, any bank will require you to be a personal guarantor - unless of couse your LLC has a lot of assets like Real Estate - then you may be able to get load ONLY as LLC/Corp

Great, thanks for the info guys...

If your company is only a few years old (ie less than 3) then most creditors will require all of the majority owners to personally guarantee the debt. Once you have built a solid credit file (D&B and Experian are most commonly used for business credit) then you will less often be required to PG the debt and it will go solely under the business. I would recommend visiting creditboards.com forums for lots of useful information on business credit.