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What happens on refinance
Refinancing repays the old facility, which should discharge the guarantee that secured it. But do not assume — get written confirmation the guarantee is released, and read whether the new lender is asking for a fresh one. See how to refinance.
Escaping the guarantee
Refinancing into a no-personal-guarantee loan is a clean way to shed the exposure entirely — the old guarantee falls away and no new one replaces it. Compare the true cost of the new deal.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. Refinancing to Credicorp means no new personal guarantee — you shed the old exposure without taking on another. See business loans or apply online.
Frequently asked questions
Does refinancing release my personal guarantee?
Repaying the guaranteed loan should discharge its guarantee, but confirm the release in writing and check whether the new lender wants a fresh one.
How do I get rid of a personal guarantee for good?
Refinance into a no-personal-guarantee loan. The old guarantee falls away and nothing replaces it.
Related reading
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What is refinancing risk and should I worry about it?
Refinancing risk is the danger that you cannot renew or replace a facility on acceptable terms when it…
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.