Client Login
Apply now

Knowledge Centre

The big trends for small business finance in 2020

Posted by Todd Davison on Jan 17, 2020 1:12:45 PM

As 2019 draws to a close, Todd Davison, Managing Director of Purbeck Insurance Services, the provider of the UK’s only personal guarantee insurance solution offers his predictions for small business finance in 2020

Read More

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

Small businesses urged to build financial resilience for the year ahead

Posted by Todd Davison on Jan 17, 2020 1:07:51 PM

 

Following news that business birth rates have fallen[i], Purbeck, the provider of the UK’s only personal guarantee insurance solution for the owners and directors of UK SMEs, is urging small businesses to build their financial resilience for 2020 to help maximise opportunities to grow.  In a survey by Purbeck, 70%[ii] of small business owners said Brexit uncertainty had made their business harder over the past year and the burden of managing cashflow is one of top five hardest things about running a business. 

At the same time, lenders are demanding more security from business owners and directors for new finance deals – in a recent survey of finance brokers by Purbeck, 49%[iii] reported an increase in demand for personal guarantees in the past year.

Read More

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

SMEs are more likely to be asked to put personal assets on the line

Posted by Todd Davison on Jan 17, 2020 1:00:23 PM

 

Survey reveals demand for personal guarantees from lenders rises by nearly 50% in past twelve months

Lenders are increasingly asking SMEs for personal guarantees to secure business finance a survey[i] has revealed. The survey of commercial finance brokers undertaken by Purbeck, the UK’s only personal guarantee insurance solution for the owners and directors of UK SMEs, found 47% of respondents said they had seen a rise in demand for personal guarantees as part of a new business finance package, in the past year.

Read More

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

47% of Finance Brokers report rise in demand for personal guarantees

Posted by Todd Davison on Jan 17, 2020 12:55:10 PM

 

A survey of commercial finance brokers[i] undertaken by Purbeck, the UK’s only personal guarantee insurance solution for the owners and directors of UK SMEs, has uncovered an increasing demand by lenders for personal guarantees to secure business  finance.  

In the survey, 47% of brokers said they had seen a rise in demand for personal guarantees as part of a new business finance package, in the past year.  This is further evidenced by the fact that Purbeck saw a 173% year on year increase in demand for personal guarantee insurance in October 2019, with a record peak that month in new policies underwritten.

Read More

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

Purbeck supports FCA’s proposals to regulate small business lending

Posted by Todd Davison on Jan 17, 2020 12:46:13 PM

Now more than any time since the last recession, small businesses need the confidence to borrow

Purbeck Insurance Services, provider of the UK’s only Personal Guarantee Insurance solution for the owners and directors of small businesses has welcomed the suggestion made by Andrew Bailey, CEO, Financial Conduct Authority in a recent report, to bring regulation into small business lending.

Read More

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

Don’t let the dream of running your own business become a nightmare

Posted by Todd Davison on Jan 17, 2020 12:43:24 PM

Finance warning to UK’s small business owners as Brexit uncertainty continues

  • - 70% of small business owners say Brexit uncertainty has made business harder
  • - Long hours and pressure on family life some of the hardest aspects of running your own business
  • - Small business owners cautioned on taking loans that will put personal finances at risk – 43% arrange funding without seeking independent advice
Read More

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

Play it safe with personal guarantees

Posted by Todd Davison on Jan 17, 2020 12:32:19 PM

It’s a buzz running a small business, but as the founder of a rapidly growing enterprise, I have a fairly good idea of what can keep other small business owners awake at night.  Money.

Whether it’s getting money in, paying it out or finding new sources of investment, managing finances can be a headache.  So when business owners are faced with the challenge of finding extra cash quickly, where do they go?

Read More

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

Half of small businesses have never used business finance

Posted by Todd Davison on Jan 17, 2020 12:28:42 PM

As Britain’s top banks reaffirm their commitment to back British business through access to finance, ahead of Brexit[i], Purbeck Insurance Services is urging small business owners not to be deterred by a Personal Guarantee to secure access to funding but to look at ways they can mitigate the risk. In a survey by Purbeck[ii], over 1 in 10 small business owners (12%) said they’d decided against taking out a business loan because it included a Personal Guarantee.  

Purbeck Insurance Services is the UK’s only insurance provider to offer Personal Guarantee Insurance.

Read More

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

Demand for personal guarantee protection on P2P loans up 40%

Posted by Todd Davison on Jan 17, 2020 12:19:25 PM

Demand for Personal Guarantee Insurance from small businesses who have secured finance from Peer to Peer lenders such as Funding Circle rose 40% in the first six months of 2019 compared to H2 2018.    Analysis by Purbeck Insurance Services, the UK’s only insurance provider to offer Personal Guarantee insurance also found that the number of small businesses seeking personal guarantee insurance for unsecured loans has risen 58% in the same period. 

Read More

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

Increase in business owners protecting their personal assets

Posted by Todd Davison on Jan 17, 2020 12:10:49 PM

In the first six months of 2019, the number of small business owners and directors who purchased Personal Guarantee Insurance for a Personal Guarantee backed finance deal rose 23%, compared to the previous six months.  Most small business owners buy protection for loans of £25,001-£50,000 and the demand for insurance protection for this bracket has grown 38% in H1 2019.  However, the number of policies for loans of £50,000-£75,000 has risen by 138% over the same half year period.

Read More

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

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