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Personal guarantee

Discussion in 'Financing' started by mxsledder, Jan 6, 2016.

  1. mxsledder

    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?
     
  2. lumberjack

    lumberjack Senior Member

    Joined:
    Dec 25, 2011
    Messages:
    1,045
    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).