145,000 Bounce Back Loans worth £3.8bn in Arrears

145,000 Bounce Back Loans worth £3.8bn in ArrearsMay 2023:  A Freedom of Information request to the British Business Bank by Purbeck Personal Guarantee Insurance, the U.K.’s only provider of personal guarantee insurance (PGI) to small business owners has revealed the current level of debt and arrears associated with the Bounce Back Loan Scheme (BBLS)[i], The Coronavirus Business […]

Big firms must be properly penalised for late payment

52% of small firms just ‘treading water’, rising to 72% in East Midlands December 2022:  Purbeck Personal Guarantee Insurance has welcomed the Government’s review into the late payment practices of big firms[i] but is calling for tougher measures to stop the stranglehold larger businesses have over their smaller suppliers, once and for all. Recent research […]

Average start-up loan value falls to £142k and loan volumes drop...

November 2022: New analysis of startup loans with personal guarantees attached has found that the average loan has fallen over 138% in the past year to £142,492, from £339,304 in 2021.  The analysis by Purbeck Personal Guarantee Insurance, the U.K.’s only provider of personal guarantee insurance (PGI) to small business owners, has also identified that […]

Tax increases will be last straw for thousands of small business...

November 2022: Ahead of Autumn Budget on Thursday 17th November 2022,  Purbeck Personal Guarantee Insurance, the U.K.’s only provider of personal guarantee insurance (PGI) to small business owners, is urging the Chancellor to reconsider the scale of tax increases and cuts to small business support amid fears that they will prompt many small businesses to […]

67% rise in small businesses seeking mentoring support as they face...

1 in 5 Personal Guarantee Insurance applications from start-ups Q2 2022 September 2022: Purbeck Personal Guarantee Insurance, the U.K.’s first and only provider of personal guarantee insurance (PGI) has seen a sharp rise in small businesses contacting its mentoring and advice service for support due to financial distress, outpacing the volume of calls it received […]

Purbeck Personal Guarantee Insurance welcomes fresh support on energy bills for...

Purbeck Personal Guarantee Insurance welcomes fresh support on energy bills for small businesses   September 2022: Purbeck Personal Guarantee Insurance, the U.K.’s first and only provider of personal guarantee insurance to the owners and directors of small businesses, has welcomed the Energy Bill Relief Scheme announced today, to cap the amount small firms can be […]

Small businesses must think like mortgage switchers

Purbeck’s top tips for surviving a recession August 2022: Purbeck Personal Guarantee Insurance, the U.K.’s first and only provider of personal guarantee insurance is urging small businesses to think like mortgages switchers and consider a fixed rate loan now to support investment or to sustain a business, while rates remain low. Since March 2021, businesses […]

Purbeck Personal Guarantee Monitor Q2 2022

125% year on year increase in loans secured with personal guarantee attached July 2022: Purbeck Personal Guarantee Insurance, the U.K.’s first and only provider of personal guarantee insurance has published its Q2 2022 figures on the take up of Personal Guarantee backed loans by small business owners, based on the volume of personal guarantee insurance […]