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5 Most Commonly Required Guaranties In Commercial Real Estate Loans
In general, commercial real estate loans are non-recourse in nature and the lenders ultimately look to their collateral for the satisfaction of the borrowers' obligations if the loan goes into default.
However, lenders typically require guaranties and other credit support from creditworthy individuals or entities, making the guarantors personally liable for certain obligations.
The five types of guaranties most commonly required in connection with commercial real estate loans are: i) non-recourse carveout (or "bad-boy") guaranties; ii) environmental indemnities; iii) repayment guaranties; iv) carry guaranties; and v) completion guaranties.
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