personal guarantee

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Understanding CRE Loan Terminology

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Understanding CRE Loan Terminology

If you have ever taken out a car loan or residential mortgage loan, chances are you are familiar with some of the basic loan terminology that is used. When it comes to commercial real estate (CRE) loans, the vocabulary opens up and even more terms are used that you may not be familiar with.

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What is a Personal Guarantee? (For Small Business Owners)

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What is a Personal Guarantee? (For Small Business Owners)

A personal guarantee means you personally promise to pay back a business loan in the event your business is unable to cover repayment of the loan. If your business defaults, the lender can come after your personal assets and real estate.