The broker sold the MCA like it was unsecured business funding, but now I am reading the agreement and there is a personal guarantee. The business is struggling and I am worried they can come after me personally if we default. Does unsecured mean they cannot touch my personal money, or does the personal guarantee change that?
The personal guarantee changes the risk. An MCA can be marketed as unsecured because there is no traditional hard collateral like real estate, but that does not mean there is no personal exposure. If you signed a personal guarantee, the funder may argue that you are personally responsible after business default. They may also have a UCC filing, ACH authorization, processor rights, or judgment language depending on the contract. Do not rely on the sales pitch. Read the guarantee, default, remedies, and governing-law sections together. If default is possible, have the agreement reviewed before assuming your personal assets are protected.