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Todd Davison

Recent Posts

What happens if a limited company goes bust?

Posted by Todd Davison on Jun 21, 2021 1:51:20 PM

No business, big or small, has been able to escape the impact of the Covid-19 pandemic – with over a year of restrictions, lockdowns and uncertainty taking its toll.

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Small Businesses Face CBILS Shock as Lenders Come Calling

Posted by Todd Davison on Jun 16, 2021 11:24:13 AM

June 2021: As many businesses face the financial impact of four more weeks before pandemic restrictions lift, small business owners who have become personal guarantors for CBILS loans over £250,000 are being warned that lenders will come to them first, if they default on the loan – not the Government.

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Topics: #personalguarantee, #Directors, #CBILS

1 in 3 Small Business Owners became Personal Guarantors in 2020 - 22% haven't told their spouse or partner

Posted by Todd Davison on Jun 7, 2021 3:54:10 PM

June 2021: The personal financial risk of becoming a personal guarantor for a business loan has become a fact of life for 1 in 3 small business owners but it’s also a secret for 1 in 5. This is according to a new survey of 1000 SME business owners and directors[i] by Purbeck Personal Guarantee Insurance, provider of the UK’s only Personal Guarantee Insurance.

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Topics: #pgi, #commercial finance, #SMEs

Personal Guarantee backed CBILS loans surpassed £2 billion

Posted by Todd Davison on May 25, 2021 3:04:14 PM

-> Freedom of Information request exposes high personal risk to over 2,300 business owners

-> Average size of a Personal Guarantee backed business loan at the end of the Coronavirus Business Interruption Loan Scheme "CBILS" was £774k.

-> In total, £2.1 billion of CBILS loans were supported by Personal Guarantees.

-> SME business owners could be on the line for over £154k if their business fails.

-> Many SMEs will have ‘Topped Out’ on CBILS, preventing access to the Recovery Loan Scheme.

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Topics: #pgi, #personalguaranteeinsurance, Insurance

What types of insurance should you consider whilst running a business?

Posted by Todd Davison on May 19, 2021 11:09:43 AM

When it comes to business insurance, owners are typically well informed with products such as employers' liability insurance, public liability insurance and business interruption insurance. But if you have ambitions to grow your business, there are other types of insurance which should be in your thinking.

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Topics: #pgi, #personalguaranteeinsurance, Insurance

54% of SMEs need cash to survive – over half are banking on the Recovery Loan Scheme

Posted by Todd Davison on May 10, 2021 2:36:07 PM

Credit cards and overdrafts prove to be lifelines for SMEs in Pandemic


  • -> 54% of SMEs need to secure new finance in 2021, of these, 54% will apply for a loan through the Recovery Loan Scheme
  • -> 34% think the Government hasn’t done enough to support small businesses
  • -> 43% saw a fall of more than 25% in business income in 2020

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

What happens with a personal guarantee when a director resigns?

Posted by Todd Davison on Apr 29, 2021 11:04:52 AM

Being a company director can take its toll. A new survey showed that up to half of business leaders were susceptible to stress and exhaustion – even when their company was doing well. For some directors, boardroom burnout can force them to consider resigning from the business.

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58% of SMEs in need could be excluded from Recovery Loan Scheme

Posted by Todd Davison on Apr 8, 2021 11:01:33 AM

Funding through Personal Guarantee backed loans could be only option.

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

How to make sure you can secure business finance

Posted by Todd Davison on Mar 18, 2021 11:30:49 AM

Borrowing hit record levels in 2020 with almost half of the UK’s small and medium-sized businesses seeking out financial support – more than three times the level of the previous year – amid the coronavirus pandemic.

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Topics: #personalguarantee, #personalguaranteeinsurance

Small businesses urged to heed the warning signs of insolvency

Posted by Todd Davison on Mar 15, 2021 2:16:02 PM

Interest on average Personal Guarantee backed loan through CBILS could reach £327,000.

The Office of Budget Responsibility has predicted a default rate of 40.4% on BBL and CBIL finance to SMEs, with £27.2 billion of loans expected to be written off[i].  Purbeck Personal Guarantee Insurance, provider of the UK’s only Personal Guarantee Insurance to SME business owners and directors, is urging the 59%[ii] of businesses revealed to have borrowed more than 20% of their turnover, to calculate their repayments and heed the insolvency warning signs.

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

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