What to do before signing a personal guarantee

02/14/2013 | Small Business Trends

You may need to sign a personal guarantee, which uses your personal assets as collateral, to get a commercial loan, writes James R. Coughlin of Asterisk Financial. But before signing such a guarantee, you should determine how much risk you are comfortable with and negotiate for more favorable terms. For example, you might ask to be relieved of the guarantee after you repay a certain amount of the loan.

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