Are there lenders who offer loans without a personal guarantee?

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August 21, 2025

by a searcher from Harvard University in Philadelphia, PA, USA

Hi, I am looking to raise $5-6 million without PG for a potential acquisition for a light manufacturing business with a strong cash flow $###-###-#### million and a 90%+ repeat customer base. Are there lenders who are looking to offer such loans, deal structure can be discussed to ensure lender protection. Thanks Vidhu
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commentor profile
Reply by an intermediary
from Bangalore University in Camp Hill, PA 17011, USA
Hi Vidhu, I will connect you with my lender contact and discuss lending options without PG.
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Reply by a searcher
from Babson College in Syracuse, NY, USA
Unless I’m misunderstanding your question, there are a lot of lenders who will lend money without a PG for deals with EBITDA >$1mm. You need to find the local lender in the geography your deal is in that does cash flow lending. I’d find a list of the top 20 depositors in that area, cross the major lenders like BAC, WFC, and JPM off the list, and call the remaining lenders on the list. If they don’t do cash flow lending, ask them who does. For our third LOI while searching we found the needle in the haystack on the first call and every call after that pointed us to the first bank they called. Some will tell you they won’t require a PG, but then when it comes time to issue a term sheet, they all of a sudden require it, so don’t stop when you get one yes.
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