Loan Outline Guarantee Letter
Loan Outline Guarantee Letter Template
[Your Company Name]
[Your Company Address]
[Your Company Number]
[Your Company Email]
[Date]
[Lender's Name / Lending Institution Name]
[Address]
[City, State, ZIP Code]
Subject: Loan Guarantee Letter for [Borrower's Name / Loan Number]
To Whom It May Concern,
I, [Your Name / Company Name], am writing to formally guarantee the loan outlined in this letter for [Borrower's Name / Company Name]. The purpose of this guarantee is to provide assurance of repayment should [Borrower’s Name] fail to fulfill their loan obligations.
Loan Details:
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Borrower's Name: [Full Name / Business Name]
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Loan Amount: [Total Loan Amount]
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Loan Term: [Duration of Loan (e.g., 5 years)]
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Loan Purpose: [Reason for Loan (e.g., business expansion, home purchase, etc.)]
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Interest Rate: [Stated Interest Rate]
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Repayment Schedule: [Details of the repayment schedule]
Guarantee Details:
I, [Guarantor’s Name / Company], hereby unconditionally guarantee to the lender, [Lender’s Name], the prompt payment of the above loan in the event that [Borrower's Name] defaults on any payment. This guarantee will remain in force for the duration of the loan unless otherwise terminated by mutual written agreement between all parties.
In case of default by the borrower, I will be liable to make full payment of the outstanding balance, including any accrued interest and fees. I understand and acknowledge the responsibilities of this guarantee and agree to uphold them as stipulated.
Conditions of the Guarantee:
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This guarantee applies to the loan mentioned in this letter, including any reasonable extensions or modifications agreed to by the lender and borrower.
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Any legal proceedings related to this guarantee shall be subject to the laws of [State / Jurisdiction].
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The guarantor will be notified immediately in case of borrower’s default.
Please feel free to contact me at [phone number] or [email address] should you need further information.
I appreciate your consideration and will be happy to provide any additional documentation required.
Sincerely,
[Guarantor's Name]
[Guarantor’s Title (if applicable)]
