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What will business life look like after COVID-19?

Posted by Todd Davison on Nov 25, 2020 3:05:47 PM

With talk of a potential vaccine roll-out gathering pace, we can begin to consider what business life will look like after COVID-19. One thing’s for sure, it’s going to be markedly different from what life looked like before the pandemic, with some people dubbing the next phase the ‘new normal’.

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Government Urged to Delay New Insolvency Rules

Posted by Todd Davison on Nov 16, 2020 3:00:00 PM
  • Small business owners facing failure also face increased risk of losing their home.

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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

Last chance saloon for CBILS

Posted by Todd Davison on Nov 16, 2020 10:20:40 AM
  • The value of personal guarantee backed business loans to SMEs during the pandemic has risen on average by 45% according to analysis by Purbeck Insurance Services, provider of the UK’s only Personal Guarantee Insurance.

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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

Directors responsibilities during insolvency

Posted by Todd Davison on Oct 23, 2020 10:22:41 AM

No company director wants to have to face up to the prospect of their business becoming insolvent. But directors have a duty to act in a certain way, in accordance with the relevant legislation, should their company find itself in a position where it can no longer pay its debts.

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Topics: #personalguarantee, #personalguaranteeinsurance, #Directors, Insurance

Loan pull back impact on late payment

Posted by Todd Davison on Oct 6, 2020 10:01:29 AM
    1. Applications for Personal Guarantee Insurance double[i] in September 2020 as lenders pull back from emergency loans

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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance

What is a Bounce Back Loan and should I take one?

Posted by Todd Davison on Sep 22, 2020 10:24:49 AM
    • More than one million small businesses have successfully applied for a government-backed Bounce Back loan since the scheme was introduced at the start of May, according to figures from the Treasury.

      The initiative has handed out loans worth more than £30 billion as SMEs attempt to drive their businesses forward during these testing times.

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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance

Clamour for small business loans expected but catch will be personal guarantee

Posted by Todd Davison on Sep 16, 2020 9:00:00 AM
    • A new survey of commercial finance brokers[i] supporting the UK’s small businesses suggests thousands of firms will be clamouring for business loans as the government support measures ease back:
    •  
    • -> 88% of SME finance brokers anticipate rise in demand for loans as support measures ease
    • -> 87% expect rise in business owners having to sign Personal Guarantees to get access to cash
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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

Financing a start-up and reduce the risk of a personal guarantee

Posted by Todd Davison on Sep 14, 2020 4:04:34 PM
  • A rise in start-ups born during the pandemic[i] is hugely positive but also not surprising. We’ve had more time to think and do and explore new avenues, particularly where existing business models or employment have ceased to exist. Necessity truly is the mother of invention. But while the pandemic has created new opportunities, the lending environment for start-ups looks set to be challenging.

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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

Start-ups get cash injection of £25 million without risk of personal guarantee

Posted by Todd Davison on Aug 27, 2020 7:30:00 AM
  • ‘Keep your hands off my home’ - Start-ups get cash injection of £25 million without risk of personal guarantee

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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

What are the alternatives to CBILS?

Posted by Todd Davison on Aug 24, 2020 3:34:26 PM
  • For smaller businesses across the UK, the government has introduced a favourable lending package to help firms get access to the funds they need to survive the coronavirus crisis. The Coronavirus Business Interruption Loan Scheme (CBILS) is available via British Business Bank-accredited lenders including high-street banks and smaller specialist lenders until 30 September 2020.

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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

Find out what UK directors understand about personal guarantees

  • Do 99% of UK directors really know what is being placed at risk when signing a personal guarantee?
  • Are directors comfortable signing personal guarantees?

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