June 2021: As many businesses face the financial impact of four more weeks before pandemic restrictions lift, small business owners who have become personal guarantors for CBILS loans over £250,000 are being warned that lenders will come to them first, if they default on the loan – not the Government.
Topics: #personalguarantee, #Directors, #CBILS
No company director wants to have to face up to the prospect of their business becoming insolvent. But directors have a duty to act in a certain way, in accordance with the relevant legislation, should their company find itself in a position where it can no longer pay its debts.
Topics: #personalguarantee, #personalguaranteeinsurance, #Directors, Insurance
Topics: #personalguarantee, #Directors, #SMEs
Topics: #personalguarantee, #personalguaranteeinsurance, #Directors, #SMEs
Topics: #personalguarantee, #personalguaranteeinsurance, #Directors, #SMEs
Topics: #personalguarantee, #personalguaranteeinsurance, #Directors, #SMEs
Topics: #personalguarantee, #Directors, #SMEs
Topics: #personalguarantee, #Directors, #SMEs
Topics: #personalguarantee, #Directors, #SMEs
Topics: #personalguarantee, #Directors, #SMEs
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.
