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Personal guarantee — claim map
GuidePersonal guarantee — claim mapBack to article
High-risk MIDs often need a PG. The LLC does not erase it. Filter the claim. Get who signs — or written “no PG.”
| Claim | Reality | Get in writing | Do not |
|---|---|---|---|
| LLC means no personal guarantee | No. High-risk boarding commonly still requires owner PG | Who signs, or written “no PG” from this underwriter | Tell underwriting the LLC blocks PG |
| PG is only a formality — they never collect | PG is real liability for losses, reserves, and related charges the form lists | What the PG form covers on this deal | Sign unread because the ISO said it is standard |
| Only the CEO must sign | Banks set beneficial-owner rules. A second owner or spouse may be required | This bank’s signature rule | Assume one signature covers every owner |
| No PG is the default if they did not mention it | Silence is not “no PG.” Get the skip in writing or expect the form | Explicit “no PG” sentence — or the PG form | Board on a sales call that never said PG |
| PG removes me from MATCH risk | No. PG is liability for money. MATCH is a member file | N/A — different job | Trade a PG for a MATCH myth |
| This page is the underwriting pack | No. The pack lists document holes. This map is the liability ask | N/A — tick PG status on the pack after you know who signs | Skip the pack because you read the PG myths |
Filter the claim. A personal guarantee is owner liability for merchant-account losses. The LLC does not erase it unless they wrote “no PG.”
Pairing procedure: Ask who signs the personal guarantee. Topic: MIDs.
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