Almost all business funding to small and medium sized businesses require a Personal Guarantee and there is a whole secondary market of lending that has sprung up over the last few years where the only security they take is a Personal Guarantee.
You can imagine how aggressive some of these companies can be when things go wrong when the only means of collecting monies is from the guarantors!
It is a rare breed but there are some companies that do provide business funding without Personal Guarantees and we have listed some of them here.
We can’t give any guidance as to how they operate or how good they are because unfortunately our client base are, for the most part, those that have already signed personal guarantees. And we imagine to protect their position most of these funders would want to see a pretty financially stable business. Also be aware of that some funders might promote no personal guarantees are required but when it comes to it they may determine there is, possibly because of the circumstances of the business but in some cases some firms may use the “no Personal Guarantee required” as a hook to catch an unsuspecting business manager.
So, as with all things, buyer beware! Anyway, for what is worth, here a few we know of with links to their websites:-
Archover: been around for a couple of years:- CLICK HERE
Wirefund: not sure to what extent they are accepting new loan applications as of early March 2019:- CLICK HERE
QR Ventures: for business loans in excess of £200k:- CLICK HERE
365 Business Finance: there is reference to merchant cash advances not requiring personal guarantees:- CLICK HERE
