Loan assigned to Ltd co - Q's

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I was considering an application for business development funding but the amount I require is too small at £20-£30k. There has been an offer to apply for a loan instead - unsecured and assigned to a ltd co and not myself (ideally I wanted to bring someone on board so they'd have an interest in helping the business grow, hence the preference for investment).

My concerns are that, if take a loan and I do a spectacularly bad job of developing the business and it folds, what would the implications be regarding bankruptcy, future business activities re Companies House etc?