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Financial crisis fear for small businesses when furlough scheme ends and access to loans gets tougher

Posted by Todd Davison on Jul 10, 2020 3:18:51 PM
  • Purbeck Insurance Services, provider of the UK’s only Personal Guarantee Insurance solution has welcomed the Job Retention Bonus but fears this will be too little too late for small businesses reaching the end of their cash reserves as the furlough scheme ends in October 2020.

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

Loan payment holidays are top mitigation measure for small businesses

Posted by Todd Davison on Jul 10, 2020 3:03:59 PM
  • Purbeck Launches COVID-19 Help Guide for SMEs

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

Is a Personal Guarantee Enforceable?

Posted by Todd Davison on May 21, 2020 11:48:04 AM

It is possible that the personal guarantee you signed is no longer enforceable. Find out your options for challenging personal guarantees to avoid the threat to your personal assets.

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

Personal Guarantee risk for over 420,000 small business owners

Posted by Todd Davison on Apr 16, 2020 2:26:08 PM
  • It is estimated that over 420,000 small business owners in the UK are acting as personal guarantors for business loans and could be facing the risk of losing their home due to the impact of Covid-19.  

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

Small Business Owners Take Cover

Posted by Todd Davison on Apr 16, 2020 2:20:46 PM
  • The number of small business owners applying for insurance to protect their personal assets if their business fails, has jumped 84% from the first week of February and the volume of applications over the whole month have almost doubled compared to February 2019. 

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

How to Get Out of a Personal Guarantee

Posted by Todd Davison on Apr 15, 2020 9:33:21 AM
  • It is possible to get out of a personal guarantee. Find out your options for challenging personal guarantees to avoid the threat to your personal assets.

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

A Guide to Bankruptcy and Personal Guarantees

Posted by Todd Davison on Mar 23, 2020 12:10:37 PM

Can Signing a Personal Guarantee Lead to Bankruptcy?

 

When faced with the prospect of signing a personal guarantee, it’s important that you know all the potential implications should the bank or financial lender look to enforce that guarantee against you.

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

Recession born SMEs hit terrible teens and reach out for cash

Posted by Todd Davison on Mar 9, 2020 8:30:00 AM

Size of personal guarantees rises 32%

Budget must help small businesses old and new. Purbeck Insurance Services, the provider of personal guarantee insurance has revealed a trend in the owners of small businesses established in the height of the financial crash in 2007-2008 who are now having to put their personal assets on the line to secure finance for their business.

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

International Women’s Day may fail to register with women running SMEs

Posted by Todd Davison on Mar 8, 2020 8:00:00 AM

46% never switch off from work

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

Financial honesty is the best policy for SME owners

Posted by Todd Davison on Mar 4, 2020 4:15:12 PM

8 out of 10 small business chiefs come clean when they put the home on the line

Money worries can be the biggest cause of relationship woes but recent research by Purbeck Insurance Services, the provider of Personal Guarantee Insurance has found that most small business owners do the right thing and come clean to their partner when they take the big step of putting the family home on the line for their business.  8 out of 10 small business owners[i] have informed their partner about a personal guarantee they have signed for new business finance. 

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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?
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