I've seen a lot of posts asking about business credit and hope this helps someone. Direct from Staples application: PERSONAL GUARANTY If you are a professional, or if the applicant has revenue of less than $1 million, is a sole-proprietorship or partnership, or is unincorporated or incorporated for less than 1 year, you should give us your personal guaranty. Your personal guaranty will speed processing of this application and may help us approve it if we are unable to grant credit based on your business information. I authorize Citibank USA, N.A. to investigate my personal credit and financial records, including my banking records. I understand that Citibank USA, N.A. or its agent may request my personal credit bureau report in considering this application, and for the purpose of an update, renewal, extension of credit, review or collection of this account. In consideration of the Citibank USA, N.A. extending credit to applicant in order to make purchases from Staples under the terms of the Business Credit Card Agreement that will be sent if credit is granted, I agree to personally guaranty payment of the debt, including any reasonable attorney's fees and court or other collection costs as permitted by law and as incurred. In the event of any default I agree that the Citibank USA, N.A. can enforce this guaranty, without first proceeding against the applicant, until the governing Cardholder Agreement has been terminated and all amounts due have been paid. I waive all notice regarding the governing Cardholder Agreement and this guaranty. I agree to guaranty payment even if the terms of the governing Cardholder Agreement are changed. I understand that any negative information including failure to make required payments on the Account may be reported to the appropriate reporting agency.
