Legal Question in Business Law in Pennsylvania
Business Credit Application/Personal Guarnetee
Can a business credit application that is in the name of an incorporated business have a personal guarantee attached to it? I had an incorporated business and applied for credit and since gone out of business. The application had some fine print that stated the signor was also personally guaranteeing the credit.
Asked on 10/08/07, 4:25 pm
1 Answer from Attorneys
Daniel Pepper
Pepper Law Group, LLC
Re: Business Credit Application/Personal Guarnetee
Yes, and it is quite common for creditors and lenders to include a personal guaranty.
Answered on 10/08/07, 4:37 pm
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