A Personal Guarantee
As a condition of raising business finance, Directors are often required to provide additional security to the lender by signing a Personal Guarantee. By signing a Personal Guarantee, the Director is placing his or her personal estate at risk; if the business fails the lender can seek recoveries from the Director personally. In most cases, signing a Personal Guarantee can be a key component in securing business finance. Directors are, therefore, willing to provide a Personal Guarantee to secure business finance so their business is able to pursue its growth.
Personal Guarantee Insurance is an annual insurance policy that provides Directors with cover in the event the business lender calls on their Personal Guarantee following insolvency.
Key features include:
- Competitive premiums and cover available across a wide range of business loans
- Insurance available for:
- Existing or new Personal Guarantees
- Multiple Personal Guarantees
- One or more guarantors
- Unlimited access to Business Support Services; a group of specialist advisors who are at your side should your business need support
- Insurance policy insured by a leading A-rated insurer and administered by Colmore Insurance, a specialist insurance broker.
Personal Guarantee Insurance can have significant financial impacts for Directors and can prevent the loss of personal wealth.
Colmore Insurance Brokers is a leading provider of personal guarantee insurance. For more information, please contact us below to discuss your requirements.