Social Sciences, asked by sangeeta92059, 8 months ago

what is the difference between the Collateral security and guarantee

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Answered by Anonymous

Explanation:

A personal guarantee is a signed document that promises to repay back a loan in the event that your business defaults. Collateral is a good or an owned asset that you use toward loan security in the event that your business defaults.

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what is the difference between the Collateral security and guarantee​

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what is the difference between the Collateral security and guarantee