CBILS personal guarantees could become ‘significant’ issue

Freedom of Information requests filed by Purbeck Insurance Services have revealed that the owners of SMEs have more than £1.2bn of personal liabilities linked to emergency coronavirus loans – despite the use of such guarantees having been restricted after an initial outcry. Purbeck’s analysis found that the average size of a CBILS loan backed by a personal guarantee was £766,000, and managing director Todd Davison said such liabilities could become a “significant” issue for some directors once facilities start to become repayable in April.

Read more: The Times

---

www.sardison.co.uk

Log into your account here, or click here to sign up!

Visit our website here for more news and product information, or click the button below to submit a short enquiry form for your finance needs.