A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults.
Read more about Loan Guarantee: Government Loan Guarantees
Famous quotes containing the words loan and/or guarantee:
“Slight was the thing I bought,
Small was the debt I thought,
Poor was the loan at best—
God! but the interest!”
—Paul Laurence Dunbar (1872–1906)
“... in the happy laughter of a theatre audience one can get the most immediate and numerically impressive guarantee that there is nothing in one’s mind which is not familiar to the mass of persons living at the time.”
—Rebecca West (1892–1983)