avalista
guarantor
The Spanish word 'avalista' is translated into English as 'guarantor', 'surety', or 'backer'. It refers to a person or entity that guarantees the debts or commitments of another person. In financial terminology, the 'avalista' signs an 'aval' or endorsement,, thus accepting the obligation to pay in case the main debtor fails to fulfill their commitments.
Example sentences using: avalista
Mi hermano es el avalista de mi préstamo para la casa.
My brother is the guarantor for my home loan.
In this example, the speaker is describing a real-life situation in which his brother agreed to be held responsible if the speaker is unable to repay their home loan.
El banco requiere un avalista para aprobar el préstamo.
The bank requires a guarantor to approve the loan.
In this context, the bank is asking for a guarantor as a risk management measure before they can approve the loan, which suggests the person asking for the loan may have a poor credit history.
Como sus padres no tienen suficiente solvencia, necesitarán un avalista para el alquiler.
As their parents do not have enough solvency, they will need a guarantor for the rent.
This example discusses a situation where someone's parents do not have enough financial stability, hence a guarantor – likely a friend or another family member – will need to make a pledge on their behalf to cover rent costs if they fail to do so.