Funding Amount
Personal Guarantee Insured
Shareholders' Funds
Type of Loan
Secured Loan
Sector
Manufacturing
We were approached by the Directors of a company which had been specialising in the manufacture of diesel engines and components since 1935!
They were considering a long-term debt consolidation package with Close Brothers which was much more competitive than their current arrangement, however, they were nervous about the PG requirement attached and sought protection for their personal assets via one of our registered introducers.
We worked closely with the Directors over a 30-day period to complete the necessary underwriting checks whilst they finalised the details of the loan.
The Directors completed purchase of the cover through our online portal as soon as drawdown had been completed, and were pleased to have secured protection for their personal assets as well as save the business a considerable amount on interest payments.
Interesting facts about the case
- This is the oldest business we have on our book of business
- We recognize that businesses take finance for a whole host of reasons and we are just as happy to consider PG's related to refinance as a cost saving exercise as we are finance taken to support growth
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