This form is a Guaranty. The form provides that the guarantor assures the full and prompt payment of all obligations incurred by the payor.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés.
For your convenience, the complete English version of this form is attached below the Spanish version.
Think long and hard! Consider your current financial situation, the risks involved, and whether you can afford to take on that responsibility. It's wise to weigh the pros and cons.
Not quite. A corporate guaranty is a promise made by a company to cover a debt, while a personal guaranty is signed by an individual. Both reassure lenders, but they come from different sources.
Yes, you can! It’s a good idea to discuss terms with the lender. Like any agreement, some flexibility could be beneficial for both parties.
Absolutely! If things go south, your personal credit could take a hit, and you might lose your house or savings if you can't settle the debt.
Lenders often ask business owners or their partners to sign a personal guaranty, especially when the business is new or lacks a track record.
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