This is the instructions For Use Of SBA Form 148, Unconditional Guarantee, And SBA Form 148L, Unconditional Limited Guarantee. Lenders routinely require a small business owner to sign a personal guaranty as a condition for a commercial loan to the business entity.It's a contract between guarantor and a creditor that obligates guarantor to pay the debt of the borrower if that borrower defaults. When applying for an SBA 7(a) loan, you must complete SBA Form 1919. This program offers loan guarantees to lenders for their loans to rural businesses. Pennsylvania, Rhode. Are You Personally Liable For An SBA Loan In North Carolina? A guarantor agreement serves as additional protection in a loan, making a loan more attractive to potential lenders. Oklahoma, Oregon, Rhode.