- Identify alternative options to providing a Personal Guarantee
- Ensure you fully understand the implications of giving a Personal Guarantee
- Help you renegotiate with your creditors if they are seizing your assets
- Review your business position to improve cash flow
- Improve your sales channels
What is a Personal Guarantee?
A Personal Guarantee is a formal agreement with a Lender where a company director agrees to take responsibility for the payment of any outstanding company debts in the event that they cannot be paid for by the business. It is a very useful tool to help:
- Secure a business bank loan
- Secure a leased premises
- Agree Invoice Finance
- Extend credit lines with suppliers
- Explore growth opportunities
A lender will be given more security if you provide a Personal Guarantee as in essence, they will be able to seize your personal assets should the business not meet its payment obligations. Sadly, we work with many Directors who have given a Personal Guarantee in good faith who are now at risk of having their personal finances jeopardised in leaner times. For this reason alone, we would advise you to get in touch to discuss how we can afford you the most protection before signing any form of agreement with a Lender.
If you are a company director who has already given a Personal Guarantee, our team are experts in helping you renegotiate the terms to ensure your personal finances are protected. For your free, confidential, no obligation discussion, get in touch with our team today.
At Leading Strategies, we know that Directors who provide a Personal Guarantee always do so with the belief that it will never be called in by the Lender. Whilst providing a Personal Guarantee can be an excellent way to help extend credit, secure a property lease or assist with getting a business loan, it can have a huge impact on your personal finance should your business face any significant financial issues or have cash flow problems. Therefore, it is essential that you fully understand the implications of providing a Personal Guarantee and are also clear on your options should your creditors choose to pursue your personal assets.
Why use Leading Corporate Recovery?
Our team are always on hand to guide you every step of the way
We understand that you may need advice quickly. That’s why our team of experts are available by email or telephone outside of standard office hours in order to provide an efficient service without compromising quality. Additionally, we know that keeping your business running is always a priority which is why we are happy to meet with you out of hours in the evening or at weekends.
Our team are empathetic and non-judgemental
We know that it can be difficult to discuss the challenges your business has faced and that coming to terms with your current financial position can be daunting. That is why our team of experts will take the time to listen without judgement in order to help you find the best way forward for your business. Our team are empathetic, discrete and will always ensure you are fully aware of all of the options available to you.
We offer flexible payment plans
We appreciate that many of our corporate clients are already strapped for cash. That’s why we always provide a free, no obligation consultation to discuss your options and if you would like us to act for you, we are always prepared to agree a flexible payment plan.