The Litigation Counsellor®
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Your Lender Wants a Personal Guarantee—Don’t take it Personal!
Stephanie Duerr | Sales & Marketing Assistant
You’re applying for a business loan. As you go through the process, you see something in the documents you didn’t anticipate—a personal guarantee.
Generally, business owners may be surprised to learn that they are going to be asked to sign a personal guarantee to borrow money. But, there is a reason it is required and even some advantages to giving it.
Below are some insights as to the reasoning, history and benefits of a guarantee, so you can be prepared in the event one is required.