guarantor

[ˌɡærənˈtɔːr]

guarantor Definition

a person or organization that promises to pay back a loan if the original borrower cannot make the payments.

Using guarantor: Examples

Take a moment to familiarize yourself with how "guarantor" can be used in various situations through the following examples!

  • Example

    The bank required a guarantor for the loan.

  • Example

    His father acted as a guarantor for his apartment lease.

  • Example

    The company's financial stability allowed it to act as a guarantor for other businesses.

guarantor Synonyms and Antonyms

Phrases with guarantor

  • an individual who agrees to be responsible for another person's debt or obligation

    Example

    The landlord required a personal guarantor for the tenant's rent payments.

  • a company that agrees to be responsible for another company's debt or obligation

    Example

    The small business was able to secure a loan with the help of a corporate guarantor.

  • two or more individuals or organizations who agree to be responsible for a loan or obligation together

    Example

    The couple acted as joint guarantors for their child's student loan.

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Summary: guarantor in Brief

A 'guarantor' [ˌɡærənˈtɔːr] is a person or organization that promises to pay back a loan if the original borrower cannot make the payments. It is often required by banks and landlords, and can be either an individual or a company. Examples include 'His father acted as a guarantor for his apartment lease.' and 'The company's financial stability allowed it to act as a guarantor for other businesses.'