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English definition of “guarantor”

guarantor

noun [C]
 
 
/ˌɡærənˈtɔːr/ US   /-ˈtɔːr/ FINANCE
a person or organization that promises to pay back a loan if the person or organization that originally borrowed the money does not: guarantor for/on sth Some providers lend young people more if their parents agree to be guarantor for the loan. The private investor acted as guarantor to £160 million of the company's bank borrowings.
(Definition of guarantor from the Cambridge Business English Dictionary © Cambridge University Press)
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