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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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Average Mortgage Prices are Set to Soar in 2024 - What Does This Mean for your Buy-To-Let PG?

Posted by Todd Davison on Jan 17, 2024 12:30:00 PM

2024 is predicted to be a challenging year for the housing market, with forecasts indicating significant increases in mortgage rates. This potential surge is the effect of The Bank of England’s decision to hike interest rates, sparking an increase in housing costs that has sent a ripple through the mortgage landscape.

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Buy-to-let landlords must prepare for a personal guarantee demand as mortgage rates fall

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

January 2024: As buy-to-let mortgage rates fall, bringing some relief to buy-to-let landlords, those shopping for a new mortgage deal are being warned by Purbeck Personal Guarantee Insurance, to prepare for a personal guarantee demand.

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Minding the Finances - 1 in 4 Small Business Owners Feels Their Mental Health Has Deteriorated From the Strain of Managing their Business Finances

Posted by Todd Davison on Jan 11, 2024 12:30:00 PM

January 2024: In a new survey of small businesses by Purbeck Personal Guarantee Insurance to gauge the financial and emotional resilience of owner/managers, 1 in 4 respondents (24%) said their mental health had been directly affected by the stress of managing the finances of their business in the past year. While 1 in 4 is far from positive, this is a significant improvement from 49% in the same survey last year and underlines the tenacity and resilience of small business owners, as they continue to face challenging economic headwinds.

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Lenders are demanding personal guarantees on loans under £10,000

Posted by Todd Davison on Jan 4, 2024 11:56:41 AM

January 2024: Following the FSB’s Super-Complaint to the FCA over SME lending practices, including the use of personal guarantees on small business loans, new data from Purbeck Personal Guarantee Insurance has revealed that 7% of the low-value, personal guarantee-backed loans it has protected have been for under £10,000, while 16% have been for under £19,999.  

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How is The Insolvency Process Carried Out for Closing a Business with Outstanding Debts?

Posted by Todd Davison on Dec 20, 2023 1:00:00 PM

The prospect of business insolvency is a daunting reality that most business owners and directors shy away from. However, preparing for the potential of financial turbulence and understanding the available routes is crucial.

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51% of Consumers Turned to Haggling for Life’s Essentials This Year

Posted by Todd Davison on Dec 18, 2023 1:00:00 PM

November 2023: In a new survey of 1000 consumers underlining the impact of the cost of living crisis on shopping habits, 51% confessed they have haggled for an essential product or service this year. The survey by Purbeck Personal Guarantee Insurance, the small business champion, suggests the U.K.’s small businesses need to be on guard as 21% in the survey think it's fine to haggle when buying from an independent retailer or small business owner and a third are planning to haggle to save costs this Christmas. 

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