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Assets
Financial Assets$61.8T
Stocks & Equities$47.2T
21% of households
Cash & Deposits$9.6T
99% of households
Bonds & Fixed Income$6.2T
1% of households
Retirement & Tax-Adv.$77.8T
Retirement Accounts$48.1T
54% of households
IRAs$18.9T
31% of households
401(k) Plans$10.0T
50% of households
529 Plans$603B
13% of households
HSAs$159B
27% of households
Real Assets$87.1T
Real Estate$48.0T
66% of households
Commercial Real Estate$22.5T
6% of households
Residential Rentals$10.3T
13% of households
Farms$3.6T
1.5% of households
Vehicles$2.4T
87% of households
Mineral Rights$314B
9% of households
Business & Insurance$20.1T
Private Business$16.0T
15% of households
Life Insurance$2.2T
16% of households
RSUs & Equity Comp$2.1T
8% of households
Total Assets $181.6T
Ownership %: Federal Reserve SCF, 2022
Liabilities
Housing Debt$14.8T
Mortgages$13.77T
42% of households
HELOCs$434B
4% of households
HELOANs$562B
~3% of households
Consumer Credit$3.6T
Vehicle Loans$1.67T
35% of households
Credit Cards$1.33T
45% of households
Personal Loans$276B
19% of households
Vehicle Leases$209B
~10% of households
BNPL Debt$70B
~17% of households
Education & Health$2.1T
Student Loans$1.66T
22% of households
Medical Debt$194B
~14% of households
Deferred Medical$200B
~36% of households
Other Debt$2.2T
Margin Loans & SBLOCs$1.23T
~4% of households
Personal Guarantees$840B
~6% of households
Insurance Policy Loans$151B
~5% of households
Total Liabilities $20.9T
Holding %: Federal Reserve SCF 2022 & agency estimates
Net Worth
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Home / Liabilities / Small Business Personal Guarantees

Small Business Personal Guarantees

Time series data on personally guaranteed small business debt in the United States, the contingent liability that bridges business borrowing and household balance sheets.

~$840B in personal guarantees tie small business debt directly to household balance sheets
Data View Commentary →
Total Outstanding Personally Guaranteed Small Business Debt
~$840B 2024
Source: Estimated from SBA Office of Advocacy · Federal Reserve SBCS · FDIC SBLS · Total small business loan balances with personal guarantees, 2000–2024
Households Exposed to Personal Guarantees
~2.6M 2024
Source: Estimated from Federal Reserve SBCS (59% personal guarantee rate) × employer firms with debt · SBA Advocacy FAQs · Households where at least one member has signed a personal guarantee on business debt, 2000–2024
Share of Small Businesses Using Personal Guarantees
59% 2025
Source: Federal Reserve Small Business Credit Survey · Share of employer firms with debt that used a personal guarantee to secure their borrowing, 2012–2025
Average Personal Guarantee Balance per Household
~$323K 2024
Source: Computed from total personally guaranteed balances ÷ estimated households with guarantees · SBA Advocacy · Federal Reserve SBCS · 2000–2024
Collateralization Patterns for Guaranteed Loans
51% business assets 2025
Source: Federal Reserve SBCS · FDIC SBLS 2024 · Share of firms with debt using each collateral type, 2012–2025. Categories are not mutually exclusive.

Key Data

Summary metrics on U.S. small business personal guarantees, the contingent liability linking business debt to household balance sheets.

Metric Value Period Source
Total small business loan balances$1.3 trillion2023SBA Office of Advocacy
Estimated personally guaranteed portion~$840 billion2024Fed SBCS / SBA (est.)
Small businesses using personal guarantees59% of firms with debt2025Federal Reserve SBCS
Households exposed to personal guarantees~2.6 million2024Fed SBCS / SBA (est.)
Average guarantee balance per household~$323,0002024Computed
Employer firms with outstanding debt69%2025Federal Reserve SBCS
Firms using business assets as collateral51%2025Federal Reserve SBCS
SBA 7(a) outstanding portfolio~$135 billionFY2024SBA Lender Reports
SBA 7(a) new approvals$37.8 billionFY2024LendingTree / SBA
Total small businesses in the U.S.34.8 million2024SBA Office of Advocacy
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