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Why Personal Guarantee Insurance Matters Now More Than Ever

Posted by Todd Davison on May 14, 2024 1:00:00 PM

In today's rapidly changing economic environment, protecting your assets has become more than just a preventative measure; it's now a necessity.

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Safeguard Your Assets in the New Fiscal Year with Personal Guarantee Insurance

Posted by Todd Davison on Apr 19, 2024 12:30:00 PM

The start of a new fiscal year presents the perfect opportunity to reassess your business’s financial position and plan ahead to ensure future success.

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49% year-on-year rise in small businesses seeking protection from personal guarantees

Posted by Todd Davison on Apr 12, 2024 1:00:00 PM

April 2024: As the Federation of Small Businesses (FSB) calls for a more comprehensive investigation into the use of personal guarantees for small business loans, the number of small business owners becoming personal guarantors continues to rise.  According to new analysis of applications for personal guarantee insurance in Q1 2024, by Purbeck Personal Guarantee Insurance, the UK’s sole provider of insurance protection for personal guarantees, there has been a 49% rise in business owners seeking Personal Guarantee Insurance (PGI) for a small business loan. And most of these were for loans to simply keep their business running.

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Analysis suggests just 11% of small business loans go to female founders

Posted by Todd Davison on Mar 25, 2024 1:00:00 PM
  • -    Companies founded solely by women garnered just 1.8% of the total capital invested in venture-backed startups in Europe.  
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  • -    The total value of loans supported by Personal Guarantee Insurance (PGI) was over £379m in 2023, but just 5% of that value was for female founders.
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  •   11% of people taking PGI for a business loan have been women, a small rise on 2022 which saw just 9% of policies taken by women for personal guarantee backed loans.
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  •   The total value of loans supported by PGI amounted to over £379m in 2023, but just 5% of that value was for female founders, equating to £20m.

 

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Risks & Rewards of Signing a Personal Guarantee as a Start-Up Company

Posted by Todd Davison on Mar 15, 2024 12:30:00 PM

Imagine you’re launching your business – a passion project that’s been brewing in your mind for years. You have the idea, the plan, and the drive to make it happen, but when it comes to securing the financing needed to turn your vision into reality, you hit a brick wall.

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Purbeck Personal Guarantee Insurance Responds to FCA Investigation into Personal Guarantees

Posted by Todd Davison on Mar 14, 2024 12:30:00 PM

March 2024: As the FCA outlines its plan to address the Federation of Small Business’ super-complaint regarding the use of personal guarantees on small business loans, Todd Davison, MD of Purbeck Personal Guarantee Insurance says: 

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Survey reveals worrying lack of awareness surrounding personal guarantees for small business loans

Posted by Todd Davison on Feb 29, 2024 12:30:00 PM

FCA response to FSB super-complaint is imminent 

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30 percent of small businesses plan to secure new finance in 2024

Posted by Todd Davison on Feb 12, 2024 12:30:00 PM
  • -76% of small businesses in profit
  • -32% of those seeking new finance need it to support cashflow
  • -Personal guarantee insurance can provide peace of mind for small business owners

 

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The Strategic Advantage of Becoming an Introducer

Posted by Todd Davison on Feb 9, 2024 12:30:00 PM

When it comes to navigating the market and understanding complex insurance options, clients sometimes need a little helping hand to find the right solution that will meet their needs.

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Demand for Personal Guarantee Backed SME Finance rose by 68% in 2023

Posted by Todd Davison on Feb 2, 2024 12:30:00 PM

Headline Figures from The Purbeck Personal Guarantee Insurance Monitor for Q4 2023:

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