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49% of small business owners are personal guarantors for a business loan or plan to be by the end of the year 50% of small business owners have already or are planning to secure new finance in 2023 42% of these people need the money to pay off outstanding debt Personal guarantees can work for […]
Barclays is looking to drive the growth of next-generation business through a £3m investment into Trade Ledger and the implementation of its working capital platform The bank has signed a three-year technology deal which will deliver fast, easy access to working capital for corporate clients London, 25th May 2023: Barclays has today announced that it is […]
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 […]
Estatesearch, a legal technology company for private client practitioners working on bereavement and loss of mental capacity cases, and one of the founders of the Vulnerable Banking Group, has announced an industry first with the automation of its Financial Profile Service. The development will now help financial firms to comply with Consumer Duty and improve […]
Big uptick in applications with 32% of personal guarantee backed loans for working capital April 2023: The fear of business failure is not stopping small and medium sized business owners from taking on new finance, despite a 33% rise in insolvencies[i], as increasing numbers are using insurance to reduce the risk. The Purbeck Personal Guarantee […]
The total value of loans supported by Personal Guarantee Insurance was over £300m in 2022, but just 4% of that value was for female foundersFebruary 2023: Following news that a record number of new businesses were founded by women in 2022[i], new analysis of personal guarantee backed loans has uncovered a huge disparity in the […]
The number of applications from small builders for personal guarantee insurance more than doubled in 2022, up 135% on 2021 Average personal guarantee backed business loan rose to £174,101 in Q4 2022 Local builders are securing finance just to keep business ticking over February 2023: The number of local builders applying for personal guarantee insurance […]
Applications for personal guarantee insurance up 106% in Q4 2022 and 145% for 2022 on 2021 Working capital top reason for new funding, applications up 144% in 2022 on 2021 Huge 181% rise in applications for cover on loans £25-£50k year on year January 2023: Personal guarantee insurance (PGI), a product used by small business […]
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 […]
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 […]
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 […]
November 2022: A new survey[i] by Purbeck Personal Guarantee Insurance of 1000 small business owners/managers across the UK suggests that many are unprepared for lenders’ increasing demands for security in return for business loans.
Prices rises, extension to business hours and energy savings top tactics to keep small firms afloat.
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 […]
Trade Ledger urges banks and lenders to upgrade their business lending operations to ensure they can support – and retain – business customers while managing risk exposure.