My question is do guarantors other than partners,directors or officers of that business have to sign the joint intent part of the application or is thier signature on the application itself o.k.

Search using +guarantor +cosigner +joint +intent and you will find 4 or 5 discussion within the past 7 to 10 days. Here's one to get you started.

http://www.bankersonline.com/forum/ubbthreads.php?ubb=showflat&Number=1563504#Post1563504

We were just discussing this in our office. We have a PFS form that includes the choices at the top. What have you instructed your officers to do regarding applications from guarantors that are required by the bank? Does anyone use a different PFS form for these situations?

If the guarantors are a condition for granting the loan by the bank, there is no requirement to obtain a joint intent statement.

Understood. However, I am considering adding a choice to our form indicate "guarantor" and I'm wondering if others have done something similar.

Randy is correct about required guarantors. You definitely need documentation on voluntary guarantors, however.

Yes, many banks have added "guarantor" as a choice on the form used.

It is very helpful to have documentation in the file as to whether guarantors offered the guaranty or the bank required a guaranty.

I have frequently had banks tell me "oh our customers are not sophisticated enough to approach the bank with a suggested deal structure, offering up guarantors"; then they tell me "oh, that guaranty was voluntary".

Can't have it both ways.

What about commercial guarantors when one of the guarantors is not a member? do you need joint intent initialed?

What about commercial guarantors when one of the guarantors is not a member? do you need joint intent initialed?