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.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
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.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
‘Keep your hands off my home’ - Start-ups get cash injection of £25 million without risk of personal guarantee
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
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.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Personal cost of Pandemic to business owners is high but optimism for the future prevails
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Matthew Cole of TJ Vickers urges traders to get protected if they have to sign a Personal Guarantee
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Purbeck Insurance Services, provider of the UK’s only Personal Guarantee Insurance solution is warning the owners and directors of specialist and small-scale manufacturing businesses that they may find their finance options severely limited unless they put their personal assets such as their home and savings, on the line.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
Purbeck responds to the R3[i] survey of insolvency and restructuring experts that found 8 in 10 respondents expect personal insolvency numbers to increase within the next 12 months with 74.2% expecting this to be related to business failure as a result of Personal Guarantees.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
The Trade Credit Insurance guarantee should mean many small businesses, particularly those in the construction and manufacturing sectors can continue to access affordable insurance to support trading with other businesses and provide confidence within the supply chain.
Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy
For more information or to speak to one of our underwriters contact us today.
Purbeck Insurance Services is a trading name of Purbeck UK Limited which is a company registered in England and Wales under company number 10345620 and has its registered office at 20 - 22 Wenlock Road, London, N1 7GU Purbeck UK Limited is authorised and regulated by the Financial Conduct Authority. Firm permissions can be obtained from the FCA register. Purbeck UK Limited is a Managing General Agent and has binding authority to enter into and administer contracts of insurance on behalf of Markel International Insurance Company Limited.
