You are putting your personal finances, credit and company credit on the line when you offer a personal guarantee. The impact of a continuing business loan on your own credit is determined by your handling of the re payments in addition to quantity of debt you have.
In the event that account is reported to individual credit reporting agencies, the heavy financial obligation will reduce your available credit and could make it harder to take out an individual loan or mortgage.
If the loan defaults and you have a individual guarantee, the collection, charge-off and, sooner or later, judgments are going to be reported and can drastically harm your ratings. (To be clear: For business financing with your own guarantee, any negative information could be reported to both the company and private credit reporting agencies.)
You failed to build up company credit profiles, your business credit reports will be bare if you have never separated company finances from personal finances and. Not only can they recognize you being a high-risk borrower, however you will become more vunerable to damaged credit.