Personal Guarantees for Small Business Loans: What You Need to Know
Signing a personal guarantee could put your personal assets at risk.
Published 01/04/21 Updated 09/06/22
Many small businesses in the UK have found the past year financially concerning as several business, both large and small, have been forced into insolvency. The tumultuous financial situation has left many businesses being understandably careful when considering entering into new business relationships and wondering about their debtors’ credit risks.
With this in mind, we have partnered with Allianz Trade, who have been providing credit insurance for 100 years and have one of the strongest reputations in the market, to provide credit solutions for FSB members.
FSB Insurance Service registrants have access to ten free credit checks of potential and/or existing debtors through Allianz Trade, who can analyse the credit of businesses in 57 countries* and return a score of 1-10 with traffic light indication to illustrate their potential risk.
Access 10 free credit checks and register for FSB Insurance Service here.
Registrants can also access, for free, Allianz Trade’ Credit Risk Analyser platform, where you can get an analysis of your entire book of invoices and debtors to build a dashboard to monitor your debt’s health and risk.
Register for FSB Insurance Service and access the Credit Risk Analyser here.
Through Allianz Trade, FSB members can get access to competitive credit insurance products and pricing, including Trade Credit Insurance where you can insure individual customers or your whole turnover, when you need to and for as long as you want.
Find out more about credit insurance here.
*For more information, you can find out more about Allianz Trade’ local offices here:
https://www.allianz-trade.com/en_GB.html
This content is for general information only and is not intended to provide advice or a personal recommendation. Insurance cover is subject to the terms, conditions, and exclusions of the policy. Always consider your individual circumstances and seek professional advice before arranging insurance. External websites are not under our control and we are not responsible for their content.
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