Client Login
Apply now

Knowledge Centre

'Money worries' top concern for small business workers

Posted by Kat Walsh on Jan 12, 2022 1:21:00 PM

67% feel mental well-being has been impacted by pandemic

Read More

Loan notes explained – a guide to loan notes for businesses

Posted by Todd Davison on Dec 16, 2021 9:54:57 AM

Loan notes, promissory notes, bill of exchange; whatever you call them, they’re an integral part of modern business and financial management. 

Read More

Topics: #pgi, #personalguarantee, #personalguaranteeinsurance

October 2021 sees record uptake in PGI by small business owners and directors

Posted by Todd Davison on Dec 1, 2021 1:17:20 PM

In a sign of the increasing uptake of personal guarantee backed business loans amongst small business owners, and a corresponding need to mitigate the personal financial risks of these loans, we saw policy numbers increase year on year by 143% in October 2021, making it a record month!

The market sectors where business owners and directors have taken Personal Guarantee Insurance over the past month are predominantly construction, wholesale and professional services.

Keir Cox, our Operations Director, said: “Our data suggests businesses are keen to borrow as we get to the other side of the pandemic but may be facing a limited choice of options from lenders, outside of personal guarantee backed loans.  This is even with a strong trading position, as has been the case for the majority of applicants over the past month.

“The increasing demand for personal guarantees from lenders was an issue we foresaw as an outcome of the pandemic but while business owners may have little choice over signing a personal guarantee if they need access to cash, Personal Guarantee Insurance is giving them the confidence to take on a loan without significant risk to their personal assets.”

Read More

1 in 5 small business owners keep quiet about personal guarantee risk

Posted by Todd Davison on Nov 23, 2021 11:47:41 AM

Start-ups warned to start on the right foot

Read More

Do you need to sign a personal guarantee when starting a business?

Posted by Todd Davison on Nov 17, 2021 2:46:31 PM

For many people wanting to start (or grow) their own small business, a personal guarantee is the only way to successfully secure essential funding, but what is a personal guarantee, and is it a requirement to take our a loan for a new business?

Read More

Our Autumn 2021 Budget Wish-List as SMEs Face a Perfect Storm

Posted by Todd Davison on Oct 21, 2021 12:40:22 PM

Ahead of the October budget, we suggest 5 key measures to support the engine room of the economy

Read More

What Are The 7 Company Director Responsibilities?

Posted by Todd Davison on Oct 12, 2021 12:03:22 PM

As a company director, you’re legally accountable for your company’s records, accounts and performance, even if you hire someone else to handle certain day-to-day responsibilities (such as an accountant). The information that you’re responsible for sending to Companies House are as follows:

Read More

Topics: #personalguaranteeinsurance

Business owners cautioned to protect their personal assets as insolvencies reach 18 month high

Posted by Todd Davison on Sep 24, 2021 12:57:33 PM

September 2021: Following news of an 18 month high in registered company insolvencies[i], we are urging the owners of small and medium sized businesses to ensure their personal assets, such as their home, bank account and savings, are protected if their business should become insolvent.

Read More

Are directors personally liable for company debts?

Posted by Todd Davison on Sep 22, 2021 9:50:34 AM

Nobody wants to think about debts, but the fact of the matter is that it’s always been a part of business (and likely always will be!). Sometimes, debt can become insurmountable for a limited company or a sole trader, but is a company director liable for its debts? 

Read More

Pandemic inspired entrepreneurs need to get educated on personal guarantees

Posted by Todd Davison on Sep 10, 2021 11:11:04 AM

Personal Guarantee backed loans risk being dismissed in favour of credit cards and overdrafts

Read More

Get in touch

For more information or to speak to one of our underwriters contact us today.

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?

    Download Survey

Subscribe Here!

Recent Posts