CBILS personal guarantees could become ‘significant’ issue


CBILS personal guarantees could become ‘significant’ issue

Freedom of Information requests filed by Purbeck Insurance Services have revealed that the owners of SMEs have more than £1.2bn of personal liabilities linked to emergency coronavirus loans – despite the use of such guarantees having been restricted after an initial outcry. Purbeck’s analysis found that the average size of a CBILS loan backed by a personal guarantee was £766,000, and managing director Todd Davison said such liabilities could become a “significant” issue for some directors once facilities start to become repayable in April.


Read more: The Times

 

www.sardison.co.uk


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