Client Login
Apply now

Knowledge Centre

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


Read More

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

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.

Read More

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

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.

Read More

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

CBILS loans worth £1.22bn revealed to have Personal Guarantee attached

Posted by Todd Davison on Feb 4, 2021 12:28:25 PM
    • CBILS loans worth £1.22bn revealed to have Personal Guarantee attached, average loan 300% more than UK house value at £766,000:

    • -> Freedom of Information request exposes high personal risk to SME owners
    • -> Average loan value £766,000
    • SME business owners could be on the hook for over £150,000 if their business fails
    • -> 39% of SMEs not aware of Personal Guarantee risks[i]
    • -> Concerns over size of loan repayments and awareness of personal guarantee risks
Read More

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

Government Urged to Delay New Insolvency Rules

Posted by Todd Davison on Nov 16, 2020 3:00:00 PM
  • Small business owners facing failure also face increased risk of losing their home.

Read More

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

Last chance saloon for CBILS

Posted by Todd Davison on Nov 16, 2020 10:20:40 AM
  • The value of personal guarantee backed business loans to SMEs during the pandemic has risen on average by 45% according to analysis by Purbeck Insurance Services, provider of the UK’s only Personal Guarantee Insurance.

Read More

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

Clamour for small business loans expected but catch will be personal guarantee

Posted by Todd Davison on Sep 16, 2020 9:00:00 AM
    • A new survey of commercial finance brokers[i] supporting the UK’s small businesses suggests thousands of firms will be clamouring for business loans as the government support measures ease back:
    •  
    • -> 88% of SME finance brokers anticipate rise in demand for loans as support measures ease
    • -> 87% expect rise in business owners having to sign Personal Guarantees to get access to cash
Read More

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

Financing a start-up and reduce the risk of a personal guarantee

Posted by Todd Davison on Sep 14, 2020 4:04:34 PM
  • 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.

Read More

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

Start-ups get cash injection of £25 million without risk of personal guarantee

Posted by Todd Davison on Aug 27, 2020 7:30:00 AM
  • ‘Keep your hands off my home’ - Start-ups get cash injection of £25 million without risk of personal guarantee

Read More

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

What are the alternatives to CBILS?

Posted by Todd Davison on Aug 24, 2020 3:34:26 PM
  • 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.

Read More

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

Get in touch

For more information or to speak to one of our underwriters contact us today.

Find out what UK directors understand about personal guarantees

  • Do 99% of UK directors really know what is being placed at risk when signing a personal guarantee?
  • Are directors comfortable signing personal guarantees?

    Download Survey

Subscribe Here!

Recent Posts