SBA Form 148L, Limited Guarantee - or the Unconditional Limited Guarantee - is a form completed by a Guarantor of the loan that contains an unconditional promise to pay the debt owed on the loan if the Borrower fails to pay it. By signing the form the Guarantor agreed to pay all amounts owed under this Guarantee upon receiving a written demand from the Lender of the loan.
The latest version of the form was released by the Small Business Administration (SBA) in October 1998. An SBA Form 148L fillable version is available for download below.
The SBA Form 148 (Unconditional Guarantee) is a related form used for obtaining a loan guarantee from the Guarantor and is used when the 7(a) Loan Authorization requires a Full Unsecured Guarantee or a Full Secured Guarantee.