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)
“Beyond the horizon, or even the knowledge, of the cities along the coast, a great, creative impulse is at work—the only thing, after all, that gives this continent meaning and a guarantee of the future. Every Australian ought to climb up here, once in a way, and glimpse the various, manifold life of which he is a part.”
—Vance Palmer (1885–1959)
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