Optimal commercial financial solutions tailored to match your daily business needs
Looking for a short-term loan to cover cash flow or commercial finance? What about a long-term investment? A lot of companies take out loans either to start up or expand. The risks involved means protection is a must to ensure an outstanding loan will be settled should the unexpected occur. Our services provide in-depth information on a wide range of business loan protection products that can help your business meet and support its objectives.
what is Business Loan protection?
Business loan protection is a type of protection insurance that can help small and large companies pay their debts in the event that the owner or one of the key persons passes away or falls into a critical illness. Having a business loan policy in place has helped so many small and large firms through challenging times and might even turn out to be one of the most valuable purchases for a company. Simply, the policy ensures that the business’ debt will be paid off in case the insured person becomes unable to work due to serious health issues (listed in the terms and conditions) or dies.
When a company decides to take out a commercial loan, a guarantor will have to be named on the agreement as required by the finance provider. Usually, a guarantor would be the owner, a partner, or a director. The same person named as guarantor on the loan will be covered by the business loan protection policy, and if this person passes away or becomes unable to work as they fall into an illness that is listed in the terms of the policy, the insurance pays out to settle the loan so the company itself is rid of the financial burden of repayment.
how we can help
- We’ll help you understand the liabilities and terms of the loan
- We will arrange comparisons of suitable policies aligned with your requirements and objectives.
- We will handle all documentation and related procedures to ensure you get the right cover
do i need it?
As a business owner, understanding the risks of commercial financing is vital. A lot of experts would recommend getting protection if your company is planning to take out a business loan or perhaps already has outstanding debts, especially if there aren’t enough assets. This protects the business from struggling to repay in the event that the owner falls critically ill or passes away. If a company goes down unprotected and runs into trouble, lenders may seek repayment from the guarantor or their estate, which in turn puts personal assets at risk. We are commercial finance advisors based in Bournemouth and we can help you no matter where in the UK you are.
Small to medium and even large operations all run the same risk when it comes to having debt, so getting a business protection loan is not only a smart move, it is an absolute must.
If you’re still in doubt, we’d be happy to get you connected to one of our commercial finance experts in Bournemouth. We will work with you to discuss your benefits on the best business loan insurance deals. Our advisors offer bespoke recommendations and suitable alternatives that suit your business needs.