Personal guarantees put SME owners off taking business loans


Personal guarantees put SME owners off taking business loans

A survey carried out by Purbeck Insurance Services found 49% of small business owners had never taken out any form of business finance and 12% decided against using business loans as they included a personal guarantee. Purbeck director Todd Davison urges owners to consider taking out personal guarantee insurance or spreading the risk between directors in order to lessen the risks when securing external finance.


www.sardison.co.uk


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