A pledge from LLC members of personal assets to guarantee payment obligations of the business venture is called a(n)

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A personal guarantee is a commitment by an LLC member (or members) to use personal assets as collateral to ensure the fulfillment of the business's financial obligations. This means if the business fails to meet its debt obligations, the individual(s) who made the personal guarantee will be personally responsible for covering the debt.

A Pledge from LLC Members of Personal Assets to Guarantee