Client Login
Apply now

PGI Knowledge Centre

What types of insurance should you consider whilst running a business?

Posted by Todd Davison on May 19, 2021 11:09:43 AM

When it comes to business insurance, owners are typically well informed with products such as employers' liability insurance, public liability insurance and business interruption insurance. But if you have ambitions to grow your business, there are other types of insurance which should be in your thinking.

Read More

Topics: #pgi, #personalguaranteeinsurance, Insurance

54% of SMEs that need cash to survive banking on 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

Personal Guarantees required under the COVID Recovery Loan Scheme

Posted by Todd Davison on Mar 4, 2021 5:06:44 PM

Purbeck Personal Guarantee Insurance cautions SMEs over Personal Guarantee risks

Read More

Topics: #pgi

Budget wish-list for post-pandemic SME survival

Posted by Todd Davison on Feb 23, 2021 8:29:56 AM

Purbeck Personal Guarantee Insurance, provider of the UK’s only Personal Guarantee Insurance to SME business owners and directors has set out its Budget wish-list to the Chancellor of the Exchequer, Rishi Sunak to help struggling SMEs get through to the other side of the pandemic.

Read More

Topics: #pgi

Breaking down the insolvency process

Posted by Todd Davison on Feb 17, 2021 1:29:02 PM

The Coronavirus crisis and subsequent lockdowns have hit the UK’s economy hard. While the government has introduced financial support for businesses to help them get through the period safely, these will end in 2021. Deloitte UK predicts that there could be a backlog of insolvencies.

Read More

Topics: #pgi

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

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