May 20 • Questions
Personal Guarantee
A broker insists that a personal guarantee from the buyer is required for the seller to sign the purchase agreement. Let's have a little fun. If you are an investor, please provide your vote below. Please read the below definition before voting.
A personal guarantee on a business loan is a legally binding agreement where an individual, typically a business owner, promises to repay the loan from their personal assets if the business defaults. This means the lender can go after the guarantor's personal assets, such as their home, savings, or investments, to cover the debt if the business can't repay it.
I would accept giving a Personal Guarantee and put my personal assets at risk!
I would never accept giving a Personal Guarantee and never put my personal assets at risk!
3
16 comments
Personal Guarantee
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