Individual must typically pledge all of their personal assets to secure an SBA guaranteed loan.

Name: Individual must typically pledge all of their personal assets to secure an SBA guaranteed loan.
Brand: Quizplus
Rating: 4.9 (60 reviews)

Question

Quizplus · Accepted Answer

This is typically true for SBA guaranteed loans, as the purpose of the personal guarantee is to provide the lender with an added layer of security in case the business is unable to repay the loan. However, certain SBA programs may have different requirements or allow for limited collateralization.

Individual Must Typically Pledge All of Their Personal Assets to Secure