One of the most common questions from applicants is: "What loan documents do I need to provide?" The short answer: less than you might expect.
PGI was designed for deal speed. We don't require a specific document type. We need sufficient evidence that a personal guarantee exists, who it binds, and the obligation being guaranteed.
For PGI underwriting, a document is sufficient if it clearly establishes: (1) who is the guarantor, (2) that a personal guarantee exists, (3) what obligation is being guaranteed, and (4) a reasonable bound on exposure. If those four elements are present, we can proceed.
Document Sufficiency Guide
Not all loan documents contain the same information. Here's what our underwriting team looks for and which documents typically provide it:
| Document | Sufficient Alone? | What It Provides |
|---|---|---|
| Commitment Letter / Term Sheet | Yes | Usually discloses loan amount, term, lender, borrower, and explicit personal guarantee requirement. Often enough to bind coverage, especially pre-closing. |
| Loan Agreement / Credit Agreement | Yes | The definitive contract. Contains borrower, guarantor(s), defaults, and governing law. The gold standard if available. |
| Personal Guarantee Agreement | Partially | Confirms the existence and scope of the guarantee. May not always include loan amount, term, or lender facility details. Context from another document may be needed. |
| Security Agreement / GSA | Sometimes | Often references guaranteed obligations and borrower/guarantor. Works if guarantee language is explicit. May lack full loan economics. |
| Promissory Note | No | Shows repayment promise and amount but typically does not define guarantee scope or guarantor obligations. |
| Loan Summary / Schedule / Exhibit | Sometimes | If it clearly lists borrower, guarantor, loan amount, and references the guarantee, it can work. Not always standalone. |
| Amendment / Renewal / Forbearance | No | Relies on prior agreements. Original documents are needed to establish guarantee scope. |
Document Priority Tiers
Based on our underwriting experience, here's how we prioritize documents:
- Commitment Letter / Term Sheet
- Loan Agreement / Credit Agreement
These documents typically contain everything we need. Upload and proceed.
- Personal Guarantee Agreement (standalone)
- Security Agreement / General Security Agreement
We can work with these. You may be asked to confirm loan amount or facility details.
- Promissory Note
- Amendments / Renewals / Forbearance agreements
These don't define the guarantee scope. You'll need a primary document.
We Don't Block You
Our application is designed to keep you moving forward. If you upload a Tier 2 or Tier 3 document, we don't reject your application. We simply adjust confidence and ask clarifying questions.
For example, if you upload a Personal Guarantee Agreement without loan terms, we'll extract what we can and ask you to confirm the loan amount and facility details. Most applicants can answer these from memory.
"PGI underwriting does not require a specific loan document type; it requires sufficient evidence that a personal guarantee exists, who it binds, and the obligation being guaranteed."
Practical Guidance
If you're closing a new loan:
Upload your Commitment Letter or Term Sheet as soon as you receive it. This lets you get a quote and bind coverage before you sign, protecting you from day one.
If you have an existing loan:
Your Loan Agreement or Credit Agreement is the best document. If you can't find it, a Personal Guarantee Agreement plus loan amount confirmation works fine.
If you're buying a business:
Acquisition financing often involves SBA loans or seller notes with personal guarantees. Your Term Sheet from the lender will include guarantee requirements. Upload it early to get covered before close.
What Happens After Upload
Once you upload your document:
- Extraction: We identify the guarantor, lender, loan amount, and guarantee terms
- Confirmation: If anything is unclear, we ask you to verify (takes 30 seconds)
- Quote: You receive a premium quote based on your exposure
- Bind: Accept the quote to activate coverage
The entire process is designed for the pace of real transactions. No waiting for paperwork to process. No forms to mail.