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
Synonyms for guarantor
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.
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.'
