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)
“... if a person is to be unconventional, he must be amusing or he is intolerable: for, in the nature of the case, he guarantees you nothing but amusement. He does not guarantee you any of the little amenities by which society has assured itself that, if it must go to sleep, it will at least sleep in a comfortable chair.”
—Katharine Fullerton Gerould (1879–1944)
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