Loan guarantee
Guarantor promise to assume the debt obligation of a borrower if the latter defaults on a loan / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Loan guarantees?
Summarize this article for a 10 year old
SHOW ALL QUESTIONS
"Co-Sign" redirects here. For the song, see Co-Sign (song).
A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be limited or unlimited, making the guarantor liable for only a portion or all of the debt.