WHY DO LENDERS AND VENDORS WANT
PERSONAL GUARANTEES (PGs)?
Business owners are often asked to sign personal guarantees when they borrow or get terms from vendors for their business. It’s frustrating, but try not to take it (ahem) personally.
Lenders &
vendors
Young businesses (< 2-5 years) BRAND NEW
Businesses with weak credit scores (50 or less) 100
35
require PGs from:
Why PGs are
required Businesses that provide PGs are more likely to pay the bills
It shows you have “skin in the game”
http://bit.ly/1paEbhG
It protects your lender or creditor if you default
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Here’s what you need to know