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Personal Guarantee Insurance (PGI) involves more than just signing your name off on the dotted line when your business secures a commercial lending facility. In case your debt obligations are not met, a personal guarantees insurance (PGI) is there to protect your personal assets.
Types of loan facilities
Personal Guarantee Insurance is available when a Personal Guarantees (PG) is provided against a wide range of business loans.
| Secured Loans | Unsecured Loans |
|---|---|
| By definition, a secured loan is where the lender has taken a charge over company assets or has a contractual right to recover your company assets that funds have been lent against in addition to the PG. Secured loans include: ● Asset finance | In comparison to a secured loan, an unsecured loan facility is where the PG and any associated charges over personal assets are the only security the lender has taken. Unsecured loans include: ● Credit cards |
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