Builders taking out personal guarantee loans but debt peaked | Purbeck
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- -> Personal Guarantee Backed Loan Applications by Small Builders/Contractors up 58%
- -> Loans for ‘working capital’ up 78%
- -> Average loan value falls by £23,000
Posted by Todd Davison on
Posted by Todd Davison on
We all know that in order to make money, you need to spend money, which is why many SME directors choose to take out loans to help their businesses grow, or when starting on a new venture.
Posted by Todd Davison on
April 2022: Following a report in the Financial Times this week suggesting that(i) a permanent replacement for the loan schemes offered to small and medium sized businesses during the pandemic is in the pipeline, we have welcomed the move but urge caution over personal guarantee requirements which could prove a barrier to take up.
Posted by Kat Walsh on
As a business owner, you’ve got to be comfortable with an element of risk. Not only are you risking your own money, but if you take out credit, you’re risking somebody else’s too.
Posted by Kat Walsh on
Starting a business is one thing but keeping it going often needs extra cash and while there is a good choice of funding options to consider, as a start-up it is unlikely you will have security in the business to offer the lender. This means you may need to sign a personal guarantee.
Posted by Todd Davison on
March 2022: Ahead of the Chancellor’s Spring Statement on 23rd March 2022, we're urging Rishi Sunak to consider key measures to support small businesses following news that company insolvencies doubled in February[i].
Posted by Kat Walsh on
People with Personal Guarantee Insurance Double Year on Year
Posted by Kat Walsh on
Posted by Kat Walsh on
The latest data shows that three in four of all small and medium size businesses in the UK are carrying some form of corporate debt, with an average borrowing of £200,000.
Posted by Kat Walsh on
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