Guarantor (Noun)
Meaning
One who provides a warrant or guarantee to another.
Classification
Nouns denoting people.
Examples
- The landlord required a guarantor with good credit before renting out the apartment.
- Her wealthy aunt served as the guarantor for the young woman's loan to buy her first home.
- To obtain a bank loan, small businesses may need a guarantor who agrees to pay back the debt if they default.
- He became a guarantor for his best friend's apartment, risking financial ruin if the friend stopped paying rent.
- A third party was listed as guarantor for the startup's financing arrangement to cover losses in the early years of the venture.