Most types of business loan can be protected, including:

• Commercial loans and mortgages
• Venture capital loans
• Director’s loans
• Personal guarantees

Before you arrange business loan protection cover, it’s important to understand each individual’s liability. Under the terms of a loan, owners may be jointly liable, severally liable, or jointly and severally liable for the repayment of the loan.

Once this information is clear, you can set up a suitable policy for anyone responsible for the repayment of the loan. A loan protection policy can be taken out to ensure repayment of a business loan in the event of the death or critical illness of a shareholder, partner, member, director or sole trader.

When a claim is made, the proceeds are paid to the policy owner, who can then decide to pay off the loan in full or to continue repayments according to the initial agreement.

If the policy has been assigned to a lender, we make things simple by paying them the claim proceeds directly.

Is your business growing? Do you need to purchase new equipment, computers, or heavy-duty vehicles to keep up with demand? You’re in luck because that’s what equipment financing is designed for.

A short-term business loan is a fixed amount of working capital borrowed from a lender with a predetermined interest rate. You pay it back with regular monthly payments based on the repayment period. No collateral is needed for a term loan.