Anyone have more info on the personal guarantee needed for 7a SBA loan?

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January 26, 2021

by a searcher from University of Oxford in Charlotte, NC, USA

The personal guarantee seems quite risky on the SBA loan, would appreciate hearing of anyone's feedback on this process.

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Reply by a lender
from Western Carolina University in Raleigh, NC, USA
SBA requires a full PG on any 20%+ owner or any key individual no matter their ownership stake. If you will be the main operator of the new business there are no ways around not providing one. We have more flexibility with silent investors.
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Reply by a searcher
from Harvard University in Fort Wayne, IN, USA
There is PG insurance if you're buying in the UK. US used to have it as well. There is a PG insurance alternative coming to the market in a few weeks. Let me know if you'd like to hear more about it.
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