A personal guarantee is an individual's legal promise to repay loans made against a business line of credit. Signing a personal guarantee means that if your business becomes unable to make repayments, you are personally responsible for resolving any outstanding balance as the individual guarantor.
At Fundbox, we see this willingness to take responsibility as a positive indication of your confidence in the stability of your business, and its ability to cover costs. That’s why we’re offering you a credit increase in exchange for your personal guarantee to repay.
If you received an email letting you know you can sign a personal guarantee and receive an increase, please note that you are eligible based on your business performance and good standing with Fundbox at the time the email was sent. Depending on the results of future assessments, you may become ineligible for additional credit based on a personal guarantee.