Small business owners who have had to provide a personal guarantee to a lender for a business loan, are being urged to act now to help prevent personal insolvency through business failure. A survey of insolvency and restructuring practitioners by R3 found over 8 in 10 respondents expect personal insolvency numbers to increase within the next 12 months with 74.2% expecting this to be related to business failure. NACFB Associate Patron, Purbeck Insurance Services, solution is highlighting the role Personal Guarantee Insurance can play in cutting the financial risk business owners face at a personal level when they use their personal assets as security for a business loan.
Purbeck Insurance Press Release
