Fill out all applicable spaces in the information grid at the top of the front page of the Guarantee. Most SBA loans require some form of physical collateral, such as real estate, equipment, inventory or accounts receivable.A personal loan guarantee for an SBA loan is a legally binding agreement where the borrower assumes personal responsibility for repaying the loan. A lender may use the Transfer of Participation Agreement when submitting its assignment request to the SBA for approval. Personal guarantors serve as a protective shield for lenders, offering assurance of repayment in cases of SBA loan defaults. An "unlimited guaranty" will make the guarantor liable for any debt owed now, or arising later, between the lender and borrower.