Lesson60 seconds
What is Personal Guarantee?
A promoter's personal promise to repay a company loan if the firm cannot.
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Simple Definition
A personal guarantee makes an individual liable for a business debt beyond the company's assets.
Explanation level
Tap a persona to hear the same idea in a totally different voice.
Try “Like I'm 5™” for a picture-book version - not the grown-up wording above.
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