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No Personal Guarantee

Personal guarantees are just like collateral but only this time your word is accepted as carrying the weight of your goal.

What is a Personal Guarantee?

Personal guarantees are another way which mortgage providers, banks, and the government have come up with to secure the loans they are extending to their clients. A personal guarantee for a loan or cash advance may consist of the following:

  • A legally binding contract for both parties involved and which states the transfer of funds from the creditor to debtor as well as the consequences that the debtor must face when he or she defaults on the loan.
  • A personal guarantee enables the creditor to obtain money from your personal account to pay off for the remaining and unpaid balance of your loan.
  • A personal guarantee may also provide the creditor with authority to manage or sell your assets for the benefit of getting your loan fully prepared.
  • If you cannot provide a personal guarantee, another party may be involved to provide a third-person guarantee.

What Makes Personal Guarantees Difficult?

Personal guarantees are not something we require from our clients for the following reasons.

We don't need you to mix your business and personal life.

We use only your business income and sales as a way of determining the type of cash advance you would find beneficial. We do not require you to secure it with a personal guarantee because we know that one should have nothing to do with the other.

We don't need you to be beholden to someone else.

Banks, mortgage providers, and other creditors would be more than willing to accept personal guarantees from third parties. But what's good news for them may not be so for you. By asking someone to act as guarantor for your loan, you are also allowing yourself to be beholden to that person – and it's not always a pleasant feeling, is it?

Personal guarantees won't reflect nicely on your credit report.

Credit bureaus don't think highly of people who are required by financial institutions to provide personal guarantees for their business loans. Certainly, their disapproval would reflect on the credit reports they make up for your current financial standing.

We know how hard it is to build one's credit and how ridiculously easy it would be to destroy what you've worked so hard for. That's why we don't ask you to provide a personal guarantee for your cash advances. When we do business with our clients, we take their words at face value and extend financial assistance on the merit of the present capabilities and potential of their companies and nothing else.

No Personal Guarantees Required for Small Business Funders

Your problems with money stop right here. Take the time to fill up one of our application forms today, and we will contact you within 24 hours about a no personal guarantee loan. We have an above-80% approval rate, and we would be more than delighted to discuss with you other financial options you may qualify for.

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