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


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