Fill out all applicable spaces in the information grid at the top of the front page of the Guarantee. SBA Lenders may use this form.The Contractor agrees to indemnify, protect, defend and hold harmless the. This Secondary Participation Guaranty Agreement is a contract that details the terms and conditions of the sale of the guaranteed portion of an SBA loan. An overview of the program, eligibility requirements and application instructions are included in the Small Business Advantage Grant Package (see links below). SBA Form 148 (Unconditional Guarantee) and SBA Form 148L (Limited Guarantee) are the standard documents for providing a guaranty on an SBA loan. This Agreement supplements the Loan Guarantee Agreement, SBA Form 750, and, if applicable, SBA Form 750B (for shortterm loans), between Lender and SBA. What Is a Guarantor? In the context of business loans, a guarantor is a person who agrees to repay the loan if the business is unable to do so. Deadline nears to apply for low-interest loans after flooding in Allegheny, Armstrong, Beaver, Butler, Washington, and Westmoreland counties.