Financial institutions ask for a guarantor when they are uncomfortable with the primary borrower's financial situation. Other situations in which lenders may ask for loan guarantors include inadequate credit score of the primary loan applicants, risky job profile, loan amounts exceeding the borrowers' eligibility, primary borrower nearing the cut-off age for making loan application and more. Lenders ask for a loan guarantor not just to be a witness or someone who proves the authenticity of the borrower. It's important to know, when a borrower is unable to make repayments in time, the liability falls upon the guarantor to pay the dues.