When lending money to a closely held corporation, what will a bank usually insist on from the major shareholders or other principals?

Question

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A bank will usually insist on a personal guarantee from the major shareholders or other principals when lending money to a closely held corporation to ensure that the loan will be repaid in the event that the corporation is unable to do so. This personal guarantee means that the guarantor is personally responsible for repaying the loan if the corporation defaults on the loan.

When Lending Money to a Closely Held Corporation, What Will