Covid loans
Posted on 01 Apr 2015
Loan liabilities a risk for SME owners Analysis by Purbeck Insurance Services shows that owners of SMEs have more than £1.2bn of personal liabilities linked to emergency pandemic support loans, with 1,587 directors agreeing to such terms when taking on credit through the Coronavirus Business Interruption Loan Scheme. The report, which comes after a Freedom of Information request, shows that the average size of a business interruption loan backed by a personal guarantee is £766,000.
