Braddock Road Insurance Corporation
Personal Guarantee Insurance

Personal Guarantee Insurance — Application

Eligibility & General

Loan Information

Business Information

Document Request

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Additional Questions

Part 2 — Attestations

Read each numbered statement. If every statement in a section is true, check the single confirmation box for that section. If any statement is not true for you, check the exception box and identify the statement number with a brief explanation — an exception is not an automatic declination; it routes your application to an underwriter for individual review.

Section APersonal Financial History

  1. I have never defaulted on a personal guarantee, and no lender has ever called upon a personal guarantee I provided.
  2. I have never declared personal bankruptcy, nor served as an officer or director of an entity that declared bankruptcy.
  3. I am not currently delinquent on any personal or business credit obligation.
  4. There are no civil judgments against me, and I have not settled any creditor dispute out of court.
  5. I have not taken out any high-interest financing (for example, a merchant cash advance) in the past year.
  6. I have not transferred assets out of my name within the last year for liability-shielding purposes.
  7. I have never previously owned or operated a business that failed due to insolvency.
  8. I have never been denied an SBA loan, nor had an SBA loan called due to default.

Section BLegal & Regulatory Standing

  1. I have never been convicted of fraud or financial misconduct, and to my knowledge none of my business partners has a criminal record related to financial crimes.
  2. I am not a party to any pending litigation related to business or personal matters.
  3. Neither I nor my business is currently under investigation by any regulatory body.

Section CGuarantee Exposure & Relationships

  1. Other than as disclosed in Part 1, I am not personally guaranteeing loans for any other business and do not presently intend to.
  2. I am not acting as guarantor on behalf of any individual or business not disclosed in this application.
  3. I have no direct relationship or business affiliation with my lender or with any service provider involved in my loan (broker, appraiser, closing agent, or similar).

Section DCondition of the Business and Forward-Looking Matters

  1. The business is solvent as of the date of this application.
  2. I have made all payments due on the loan to date (if the loan has closed).
  3. I am not aware of any liability — actual, contingent, or perceived — that cannot be met within thirty (30) days of its due date from the business's available cash resources.
  4. No debt owed to the business has become bad or doubtful in a way likely to have a materially adverse effect on the business's ability to pay its debts as they fall due.
  5. The business has not lost a significant customer or significant supplier in the last 12 months.
  6. I do not anticipate filing for personal or corporate bankruptcy in the next 12 months, and I have no reason to believe I will be unable to make loan payments or that the business will suffer cash-flow deficiencies in the next 12 months.
  7. I do not expect to materially change the business's operations in the next 12 months.
  8. I am not aware of any material information that may have an adverse effect on the business or its ability to meet its obligations over the next 6 months.
  9. The business maintains comprehensive business insurance covering loss or damage to all physical assets relevant to the guaranteed loan.

Part 3 — Certification

Each statement confirmed above is an individual representation made by me to Braddock Road Insurance Corporation and the insurer, to the best of my knowledge and belief after reasonable inquiry, to induce the issuance of insurance. I certify that all statements, answers, and confirmations in this application are true, complete, and accurate. I understand and agree that any misrepresentation, omission, or falsification may result in denial of coverage, rescission of the policy, or cancellation of any insurance issued. I acknowledge that this application and any supplemental information provided form the basis of any policy issued. I understand that coverage is not effective until approved by the insurer and all required premiums are paid.