He does not borrow money directly, but he acts as a co-signer and gives the lender certain guarantees. But the SBA and the lender will probably still want your personal guarantee. For example, for its main loan program, Loan 7(a), the SBA requires business owners who own 20% or more of their business to provide an unconditional personal guarantee. This means that even if the lender changes the terms of the loan, the personal guarantee still exists. Some States waive lease guarantees that have been modified without the consent of the guarantor. New Jersey courts limit or relieve rental guarantees if the changes violate the guarantor or increase liability. New Jersey did not disclose which lease changes increase the guarantor`s risk. New Jersey landlords can ensure the applicability of the rental guarantee. .