Funding Amount
Personal Guarantee Insured
Net assets
Type of Loan
CBILS Loan
The Director of a commercial refurbishments and fit-out business approached Purbeck Insurance for cover against a Personal Guarantee signed in support of an unsecured loan. The loan was drawn down to consolidate a number of smaller, expensive, working capital loans and also to phase out a costly invoice finance facility which was having an adverse effect on the bottom line.
The business was in a strong growth curve and, thanks to their agility, had quickly adapted their working practices to ensure they could continue to service their order book in conjunction with COVID-19 guidelines and to be COVID SECURE.
The Director was able to provide strong, accurate and up-to-date management information and well-considered financial forecasts to support their Personal Guarantee Insurance application.
Interesting facts about the case
- It was great to work with a management team where they truly believe in their vision for the company and were looking to take advantage of market opportunities.
- The Purbeck underwriters were able to manage the clients' expectations well and ensured the right level of focus on the key risk areas when presenting to insurers.
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