If you have a low score, it means that you probably had missed payments, late payments, or gone into default on debt in the past. (lendedu.com)
The risk of loss should a borrower default on their debt by failing to make the required payments. (finpipe.com)
A personal guarantee means the business owner assures repayment of a business debt with personal assets, if the business defaults on the debt. (rebuildcreditscores.com)