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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