What Does Personal Guarantee Mean for a Business Loan?

What Does Personal Guarantee Mean for a Business Loan?

If you are looking to get your hands on a business loan for either a startup or a current business, you may have heard the term personal guarantee before. This article will help clarify what a personal guarantee is, along with some of the pros and cons associated with it.

What Is a Personal Guarantee?

The term personal guarantee is used within a legal loan agreement between lenders and business owners.

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