{"id":911,"date":"2020-02-23T21:48:10","date_gmt":"2020-02-23T21:48:10","guid":{"rendered":"https:\/\/trc-parus.ru\/?p=911"},"modified":"2020-06-18T19:45:34","modified_gmt":"2020-06-18T19:45:34","slug":"what-are-personal-guarantees-and-why-have-them","status":"publish","type":"post","link":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/","title":{"rendered":"What are personal guarantees and why have them?"},"content":{"rendered":"

<\/p>\n\n\n

When getting a merchant account, many payment processors will ask for a personal guarantee. There are some cases where this may not happen, for example in businesses that have been around for many years or a business that is very low risk.<\/p>\n\n\n\n

It is understandable to feel a little uneasy when signing a personal guarantee. Your business could go out of business for all you know. Payment processors ask for this because they are the ones that are liable if you do not deliver the right products or services and end up owing money. <\/p>\n\n\n\n

For example, let’s say you just opened a furniture store. You make the furniture and you love it. Your website is awesome and you know a lot of people that want to buy your furniture. You’re so good that 40 people asked for tables for $3k each. That’s $120,000! Amazing. You take half the money from people so you can afford the tools and raw material. So, you processed $60,000.<\/p>\n\n\n\n

You start to build your furniture but unfortunately a fire starts and burns your raw material and your home office. That’s bad news and you now don’t have the money to fix your place or pay back the $60,000 to your customers. And you have no way to finish building the furniture. <\/p>\n\n\n\n

The payment processor is liable for that loss. A personal guarantee put you and the payment processor on the same team to ensure the right products and services get into the hands of your customers.<\/p>\n\n\n

<\/p>","protected":false},"excerpt":{"rendered":"

When getting a merchant account, many payment processors will ask for a personal guarantee. There are some cases where this may not happen, for example in businesses that have been around for many years or a business that is very low risk. It is understandable to feel a little uneasy when signing a personal guarantee. […]<\/p>\n","protected":false},"author":5,"featured_media":1370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[31],"tags":[],"yoast_head":"\nWhat are personal guarantees and why have them? - Credit Card Processing and Merchant Account<\/title>\n<meta name=\"description\" content=\"Personal guarantees sometimes exist in payment processing. Learn what is a personal guarantee, why they happen, whether you should do them.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What are personal guarantees and why have them? - Credit Card Processing and Merchant Account\" \/>\n<meta property=\"og:description\" content=\"Personal guarantees sometimes exist in payment processing. Learn what is a personal guarantee, why they happen, whether you should do them.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/\" \/>\n<meta property=\"og:site_name\" content=\"Credit Card Processing and Merchant Account\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/clearlypayments\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-23T21:48:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-18T19:45:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png\" \/>\n\t<meta property=\"og:image:width\" content=\"592\" \/>\n\t<meta property=\"og:image:height\" content=\"355\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Kalle Radage\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@kalleradage\" \/>\n<meta name=\"twitter:site\" content=\"@clearlypayments\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kalle Radage\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/\"},\"author\":{\"name\":\"Kalle Radage\",\"@id\":\"https:\/\/trc-parus.ru\/#\/schema\/person\/608d627233ee548e9312ce67fe0b72d0\"},\"headline\":\"What are personal guarantees and why have them?\",\"datePublished\":\"2020-02-23T21:48:10+00:00\",\"dateModified\":\"2020-06-18T19:45:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/\"},\"wordCount\":262,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/trc-parus.ru\/#organization\"},\"image\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png\",\"articleSection\":[\"How Payments Work\"],\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/\",\"url\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/\",\"name\":\"What are personal guarantees and why have them? - Credit Card Processing and Merchant Account\",\"isPartOf\":{\"@id\":\"https:\/\/trc-parus.ru\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png\",\"datePublished\":\"2020-02-23T21:48:10+00:00\",\"dateModified\":\"2020-06-18T19:45:34+00:00\",\"description\":\"Personal guarantees sometimes exist in payment processing. Learn what is a personal guarantee, why they happen, whether you should do them.\",\"breadcrumb\":{\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#breadcrumb\"},\"inLanguage\":\"en-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#primaryimage\",\"url\":\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png\",\"contentUrl\":\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png\",\"width\":592,\"height\":355,\"caption\":\"personal guarantee\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/trc-parus.ru\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What are personal guarantees and why have them?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trc-parus.ru\/#website\",\"url\":\"https:\/\/trc-parus.ru\/\",\"name\":\"Credit Card Processing and Merchant Account\",\"description\":\"Friendliest Payment Processor on Earth\",\"publisher\":{\"@id\":\"https:\/\/trc-parus.ru\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/trc-parus.ru\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/trc-parus.ru\/#organization\",\"name\":\"TRC-Parus\",\"url\":\"https:\/\/trc-parus.ru\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/trc-parus.ru\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/01\/Asset-1@3x.png\",\"contentUrl\":\"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/01\/Asset-1@3x.png\",\"width\":2913,\"height\":902,\"caption\":\"TRC-Parus\"},\"image\":{\"@id\":\"https:\/\/trc-parus.ru\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/clearlypayments\",\"https:\/\/x.com\/clearlypayments\",\"https:\/\/www.linkedin.com\/company\/clearlypayments\",\"https:\/\/www.youtube.com\/channel\/UCUCzQokVSCniiISETs-R6mg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/trc-parus.ru\/#\/schema\/person\/608d627233ee548e9312ce67fe0b72d0\",\"name\":\"Kalle Radage\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-CA\",\"@id\":\"https:\/\/trc-parus.ru\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/65d359bc79497b225799d34b9d24421b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/65d359bc79497b225799d34b9d24421b?s=96&d=mm&r=g\",\"caption\":\"Kalle Radage\"},\"description\":\"Kalle Radage is a tech entrepreneur and business leader. Kalle is the Co-founder and Chairman of TRC-Parus and Co-founder and COO of Neptune Digital Assets. He has scaled technology companies from the ground up and held leadership roles at global enterprises. Previously, he was a venture capitalist, investing in and helping grow innovative companies. He strives to build teams and products that people love. He has lived and worked in Silicon Valley, Europe, Boston, and Vancouver. He received a computer science degree from UBC in Canada and an MBA from IESE in Spain. Kalle works to be an active tech community member as an advisor, investor, and board member. He enjoys skiing, biking, climbing, and surfing.\",\"sameAs\":[\"https:\/\/trc-parus.ru\",\"https:\/\/www.linkedin.com\/in\/kalleradage\/\",\"https:\/\/x.com\/kalleradage\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What are personal guarantees and why have them? - Credit Card Processing and Merchant Account","description":"Personal guarantees sometimes exist in payment processing. Learn what is a personal guarantee, why they happen, whether you should do them.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/","og_locale":"en_US","og_type":"article","og_title":"What are personal guarantees and why have them? - Credit Card Processing and Merchant Account","og_description":"Personal guarantees sometimes exist in payment processing. Learn what is a personal guarantee, why they happen, whether you should do them.","og_url":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/","og_site_name":"Credit Card Processing and Merchant Account","article_publisher":"https:\/\/www.facebook.com\/clearlypayments","article_published_time":"2020-02-23T21:48:10+00:00","article_modified_time":"2020-06-18T19:45:34+00:00","og_image":[{"width":592,"height":355,"url":"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png","type":"image\/png"}],"author":"Kalle Radage","twitter_card":"summary_large_image","twitter_creator":"@kalleradage","twitter_site":"@clearlypayments","twitter_misc":{"Written by":"Kalle Radage","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#article","isPartOf":{"@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/"},"author":{"name":"Kalle Radage","@id":"https:\/\/trc-parus.ru\/#\/schema\/person\/608d627233ee548e9312ce67fe0b72d0"},"headline":"What are personal guarantees and why have them?","datePublished":"2020-02-23T21:48:10+00:00","dateModified":"2020-06-18T19:45:34+00:00","mainEntityOfPage":{"@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/"},"wordCount":262,"commentCount":0,"publisher":{"@id":"https:\/\/trc-parus.ru\/#organization"},"image":{"@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#primaryimage"},"thumbnailUrl":"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png","articleSection":["How Payments Work"],"inLanguage":"en-CA","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/","url":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/","name":"What are personal guarantees and why have them? - Credit Card Processing and Merchant Account","isPartOf":{"@id":"https:\/\/trc-parus.ru\/#website"},"primaryImageOfPage":{"@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#primaryimage"},"image":{"@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#primaryimage"},"thumbnailUrl":"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png","datePublished":"2020-02-23T21:48:10+00:00","dateModified":"2020-06-18T19:45:34+00:00","description":"Personal guarantees sometimes exist in payment processing. Learn what is a personal guarantee, why they happen, whether you should do them.","breadcrumb":{"@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#breadcrumb"},"inLanguage":"en-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/"]}]},{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#primaryimage","url":"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png","contentUrl":"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/02\/personal-guarantee.png","width":592,"height":355,"caption":"personal guarantee"},{"@type":"BreadcrumbList","@id":"https:\/\/trc-parus.ru\/blog\/what-are-personal-guarantees-and-why-have-them\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/trc-parus.ru\/"},{"@type":"ListItem","position":2,"name":"What are personal guarantees and why have them?"}]},{"@type":"WebSite","@id":"https:\/\/trc-parus.ru\/#website","url":"https:\/\/trc-parus.ru\/","name":"Credit Card Processing and Merchant Account","description":"Friendliest Payment Processor on Earth","publisher":{"@id":"https:\/\/trc-parus.ru\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/trc-parus.ru\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-CA"},{"@type":"Organization","@id":"https:\/\/trc-parus.ru\/#organization","name":"TRC-Parus","url":"https:\/\/trc-parus.ru\/","logo":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/trc-parus.ru\/#\/schema\/logo\/image\/","url":"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/01\/Asset-1@3x.png","contentUrl":"https:\/\/trc-parus.ru\/wp-content\/uploads\/2020\/01\/Asset-1@3x.png","width":2913,"height":902,"caption":"TRC-Parus"},"image":{"@id":"https:\/\/trc-parus.ru\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/clearlypayments","https:\/\/x.com\/clearlypayments","https:\/\/www.linkedin.com\/company\/clearlypayments","https:\/\/www.youtube.com\/channel\/UCUCzQokVSCniiISETs-R6mg"]},{"@type":"Person","@id":"https:\/\/trc-parus.ru\/#\/schema\/person\/608d627233ee548e9312ce67fe0b72d0","name":"Kalle Radage","image":{"@type":"ImageObject","inLanguage":"en-CA","@id":"https:\/\/trc-parus.ru\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/65d359bc79497b225799d34b9d24421b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/65d359bc79497b225799d34b9d24421b?s=96&d=mm&r=g","caption":"Kalle Radage"},"description":"Kalle Radage is a tech entrepreneur and business leader. Kalle is the Co-founder and Chairman of TRC-Parus and Co-founder and COO of Neptune Digital Assets. He has scaled technology companies from the ground up and held leadership roles at global enterprises. Previously, he was a venture capitalist, investing in and helping grow innovative companies. He strives to build teams and products that people love. He has lived and worked in Silicon Valley, Europe, Boston, and Vancouver. He received a computer science degree from UBC in Canada and an MBA from IESE in Spain. Kalle works to be an active tech community member as an advisor, investor, and board member. He enjoys skiing, biking, climbing, and surfing.","sameAs":["https:\/\/trc-parus.ru","https:\/\/www.linkedin.com\/in\/kalleradage\/","https:\/\/x.com\/kalleradage"]}]}},"_links":{"self":[{"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/posts\/911"}],"collection":[{"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/comments?post=911"}],"version-history":[{"count":1,"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/posts\/911\/revisions"}],"predecessor-version":[{"id":3214,"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/posts\/911\/revisions\/3214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/media\/1370"}],"wp:attachment":[{"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/media?parent=911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/categories?post=911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trc-parus.ru\/wp-json\/wp\/v2\/tags?post=911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}