In the aftermath of the recession, the requirement for a personal guarantee from a director or shareholder has become standard practice whenever a small company looks to borrow money from a bank…
Whilst personal guarantees may now be an unavoidable part of raising finance for small businesses, it is important for the people providing guarantees (the guarantors) to be aware of the implications and consequences involved. QFinance offer a checklist which provides an overview of personal guarantees and what the consequences of giving them may be.
Personal Guarantees and the Potential Consequences of Giving Them – QFinance
