Personal Guarantees on Small Business Loans
A lender might ask for a personal guarantee in order to approve a business loan. Before signing that personal guarantee, a business owner should know that it may allow the bank to go after one's real estate, cash, and other assets.
Many or all of the companies featured provide compensation to LendEDU. These commissions are how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear on our site.