Minding Business

5 Things You Need to Know About Personal Guarantee Structures

Personal Guaranties are Common in Construction
Posted by Anna Jotham on December 12, 2019 in  uncategorized
Personal guarantees are common in the construction industry, especially among smaller businesses that need to provide and extra level of protection to companies extending credit to them. In the event that the business defaults on a debt, the guarantor — typically the owner of the business or whoever signed for the credit — would satisfy the debt with their personal assets. For many smaller business owners, it offers an opportunity to tap capital you might not otherwise have access to, and as a result gr... read more
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