" is more like it.
And as far as government backing is concerned: Dream on!
A GmbH´s liability is limited to its minimum retained capital
, for which there are strict rules in the respective laws.
Since creditors know about these limitations, GmbHs will usually not get any meaningful credit without additional backing through uncommitted assets.
I don´t know a lot about the anglo-saxon equivalent, but I suspect the "limited" corporation construct might be similar.