The experienced business owner is no stranger to signing personal guarantees. It has become standard practice for lenders to require owners, and even their families, to sign a personal guarantee (PG) to secure a commercial loan.
While this is often the price of doing business, what does a personal guarantee mean to business owners, partners and even family members? What, if anything, can be done about them?
While they are nothing new, PGs have become commonplace as tight credit conditions have forced banks to become increasingly conservative in their lending practices.
To read the full, original article click on this link: You Can Use These 5 Steps to Negotiate a Personal Guarantee
