25 If outside collateral is taken in the form of a limited corporate guarantee from an associate company, what will happen if the borrower is unable to repay the debt? Review Later Both the company and the company owner may be pursued to fulfill the debt obligation. The owner of the company will be personally responsible for completing the loan obligations. The lender has the right to pursue recourse from the guarantor company within a specific dollar amount. The guarantor will cover all the liabilities of the borrower regardless of the amount