Yes it will as you signed a personal guarantee. Further - the SBA and your bank may come after your personal assets to satisfy your debt. Your best option would be to call your bank and try to work out a deal with them - i.e. lower your payments - reduce your interest. If you do default - it would stay on your credit for up to 10 years after your lenders quits reporting the negative item to the credit agencies - which they could do as long as they want.

Missing your payments and defaulting on your loans negatively impacts your business credit score. Your personal credit score may be affected, depending on the type of business structure that you have in place. For more on this topic, read Business.gov's article 'What happens when I default on a business loan'.