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Personal guarantee

M

mxsledder

Well-Known Member
Joined
Sep 22, 2006
Messages
135
Location
utah
I'm putting $80,000 down on a new excavator with the purchase price of $379,000.
I would not like to have to do a personal guarantee. With this much money down is it reasonable to not have to sign one?
 
L

lumberjack

Senior Member
Joined
Dec 24, 2011
Messages
1,044
Location
Columbus, MS
It depends on the structure, assets, longevity of your company, and what underwriting requires. You can always play hardball with them.

Even with a PG, it may not show up on your personal credit report, depending on how the lender handles it (should be able to disclose that in advance).
 
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