A federal loan guarantee is when a borrower obtains a loan from a private entity (a bank etc.) and, as part of the loan agreement, the federal government (translation: the taxpayers) promises to reimburse the lender should the borrower than subsequently default. Of course, the government then attempts (not always successfully) to have the original borrower reimburse the government for any loses incurred. (Good luck in the case of Solyndra)
“loses”=”losses”