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)
“I am not afraid of the priests in the long-run. Scientific method is the white ant which will slowly but surely destroy their fortifications. And the importance of scientific method in modern practical life—always growing and increasing—is the guarantee for the gradual emancipation of the ignorant upper and lower classes, the former of whom especially are the strength of the priests.”
—Thomas Henry Huxley (1825–95)