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What's a specific guarantee?
Whether it's a small business trying to stay afloat its first year, or someone who needs help with next month's bills, loans can be the difference between thriving and failing. But if a prospective borrower doesn't have credit, collateral, or history a lender feels sufficient, they may require the added assurance of a trusted guarantor. A specific guarantee, also known as a loan guarantee agreement, protects all three parties and outlines what's expected of who and when.
Here's the info you'll need to have handy to complete your doc:
Who the guarantor is
Have their name and contact info ready.
Who the lender is
Have their information available, too.
Who the borrower is
You'll also need their information.