Best in Law: What does a loan guarantee really mean?

The bank asks for a personal guarantee on your business loan. The good news is California is a borrower-friendly state. The bad news is California law is not so guarantor-friendly. If you are asked to guarantee a loan for your business, you should understand and consider your options carefully.
Guarantees are a way for lenders to minimize risk, and they provide another way to collect on a loan if the borrower doesn’t pay. Even when the loan is secured by commercial property, lenders often