Currently, all shareholders of a corporation, members of a co-op, or partners in a partnership must sign and be held jointly and severally liable for the entire  advance. A recent change was made to the legislation and regulation to allow for a guarantee in lieu of this joint and several guarantee requirements. An administrator may now accept a guarantee from a financial institution or from one or more individuals who can prove that they have the financial collateral issue such a guarantee. This could be one or more of the shareholders/members/partners, or a third party.