Features & Analysis
How to cut personal guarantee risk facing small business clients
While small businesses are facing a limited choice of options from lenders, outside of personal guarantee backed loans, even with a strong trading position, the risk of signing a Personal Guarantee has increased.
Solicitors could be seeing an increase in demand for SME finance based services in 2022 as the Government’s Covid-19 support has eased back and take up of the Recovery Loan Scheme is expected to remain low. A recent study by the National Association of Commercial Finance Brokers (NACFB) found that business borrowing has returned to 2019 levels.
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