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All you need to know about Secured Business Loans

Posted by Todd Davison on Aug 30, 2019 9:27:41 AM
  • Going off the name alone, a secured business loan can sound like the less risky option when trying to obtain some additional funding for your company. But it is less of a risk for the lender, as they are sanctioned on the condition that the borrower offers business assets as ‘security’.


    Typically, the borrowing business will put forward a company asset such as property, land or equipment. This means the loan is ‘secured’ against one or more of these assets, which the lender can take if a business stops making repayments.

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

Late payment issues exacerbate for 27% of SMEs and close to 1 in 3 are finding it harder to access finance

Posted by Todd Davison on Aug 22, 2019 10:14:00 AM
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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

74% of SMEs would sign a Personal Guarantee if their personal risk was cut

Posted by Todd Davison on Aug 20, 2019 10:18:00 AM
  • Purbeck Insurance Services, the UK’s only insurance provider to offer Personal Guarantee insurance, has revealed that nearly three quarters of SMEs (74%) would be more likely to take out a loan with a Personal Guarantee if they could insure against the risk of providing it.   The most common reasons businesses want to take out a loan are to improve cashflow (28% of respondents) and acquire new equipment (27%).
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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

Small business owners should have legal power against firms that cause them to fail

Posted by Todd Davison on Aug 19, 2019 8:52:00 AM
  • Purbeck Insurance Services, the UK’s only provider of personal guarantee insurance is supporting calls[i] to empower the shareholders and owners of small businesses to take legal action against firms that are to blame for their business falling into insolvency. 

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

Mind the gap in protection for SME finance

Posted by Todd Davison on Aug 14, 2019 10:30:00 AM
  • The British Business Bank Small Business Finance Markets Report[i] recently highlighted that while Solicitors rank second to Accountants when SMEs seek advice on new finance, the likelihood of SMEs seeking external advice has grown year on year – the study found that 47% are very likely to pay for independent advice to help them obtain finance. The report also identified a small but significant jump in the percentage of SMEs aiming to grow substantially in 2019.  While many business want to focus efforts on debt recovery to aid cashflow, the proportion of SMEs seeking external finance has remained stable with an uplift amongst micro businesses. 
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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

Making Personal Guarantees more palatable

Posted by Todd Davison on Aug 14, 2019 8:49:00 AM
  • A Personal Guarantee puts your personal assets such as your home and savings on the line to settle a debt if you default on the loan

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

Half of small business owners put their homes and savings on the line

Posted by Todd Davison on Aug 12, 2019 8:41:00 AM
  • The 2019 British Bank Business Report[i] paints a worrying picture of the risks small businesses take to secure finance for their business. 
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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #commercial finance, #bankruptcy

Solicitors advised to mind the gap in SME finance advice as demand is set to grow

Posted by Todd Davison on Aug 7, 2019 8:08:00 AM

Personal Guarantee insurance can support a solicitor’s duty of care to the directors and owners of SMEs

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

Personal Guarantees and what they mean for SME Directors

Posted by Todd Davison on Aug 1, 2019 8:04:00 AM

You need to be a very confident person to put up your personal estate as collateral when taking out a loan. Some business directors will sign a Personal Guarantee even if it makes them feel uncomfortable. For others, it’s deemed too much of a risk.

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

Keep calm and carry on – SMEs prepare to ride the Brexit storm by shoring up their finances

Posted by Todd Davison on Jul 30, 2019 10:27:00 AM
  • SMEs endeavouring to plan for Brexit will be looking carefully at cash-flow to gauge how much pressure they can take without additional borrowing.  The main concern is that day to day running costs will rise – this might be due to material costs going up, wage bills increasing as the migrant workforce reduces and higher warehousing costs for stockpiled goods. 
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Topics: #pgi, #personalguarantee, #personalguaranteeinsurance, #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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