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UK Finance, the banking industry trade body, has held discussions with leading business group to discuss the provision of emergency Brexit advice to small and medium sized businesses. Part of their mission is to reassure the SME community that banks will retain the capacity to lend and not tighten the availability of credit. They also plan to outline alternative finance options available to SMEs. 

We are delighted to announce our partnership with FSB Insurance Service

It’s often the case of David v Goliath for many small businesses when it comes to dealing with large firms and their supplier payment cycles. 

Is the economic future really as dire as people make out? 

Personal Guarantee Insurance – it’s a simple concept.

In January 2018, the Financial Conduct Authority ("FCA") opened a consultation on the role of the Financial Ombudsman Service (“FOS”) and whether its services should be extended to incorporate more SMEs and personal guarantors.

You co-signed a personal guarantee for your spouses business loan and now you’re faced with losing everything you own and bankruptcy.  How did you get to this point and was there any way you could have prevented it from happening?

There’s no let-up in lender demand for personal guarantees as security for small business loans.  So faced with this Hobson’s choice and a future that’s predictably uncertain, what are the pros and cons of signing that guarantee? 

Most small business owners would prefer not to sign a personal guarantee, but when it makes the difference between securing finance and having the door shut in your face what’s a small business owner to do?

If signing the guarantee is the only route to finance, the first priority for any savvy small business owner is a thorough check on what they’re potentially getting into.  Even a thriving business can go through uncertain times and if things do go wrong, that guarantee could mean loss of personal assets including home, possible bankruptcy, tarnished credit rating and damaged future career, not to mention a severe strain on family relationships.