Applications for personal guarantee business loans up 50% | Purbeck
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- Applications for Personal Guarantee Insurance to support business funding rose 50.5% Q1 2022 vs Q1 2021
In March 2022, the number of applications doubled those received in March 2021.
• 35% of finance applications with a personal guarantee attached are for ‘Working Capital’
• Applications for personal guarantee insurance to support funding for ‘Working Capital’ up 88% vs Q1 2021
• The average loan rises 22%, from £142,718 in Q1 2021 to £174,104 Q1 2022
• Finance applications for business development up 69%
- Applications for Personal Guarantee Insurance to support business funding rose 50.5% Q1 2022 vs Q1 2021