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.
Yes! You might explore options like getting an investor, securing collateral, or finding different financing routes that don't require a personal guarantee.
If the business defaults and the lender comes after you, it can hit your credit score pretty hard. It's like a black mark on your financial record.
Unfortunately, backing out isn't usually an option. Once the ink's dry, you're typically on the hook unless the lender agrees to release you.
Not quite! A personal guaranty involves your personal finances, while a corporate guarantee is tied to the company's finances. It's apples and oranges, really.
You might need to sign a personal guaranty to help your business get financing. It shows lenders that you're committed and willing to back it up with your personal assets.
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Pittsburgh Pennsylvania Garantía Personal - General