In the world of small businesses, taking out loans and securing funding often involves personal guarantees, where business owners pledge personal assets as collateral. While this can provide vital capital, it also presents serious risks if financial hardships strike, making personal guarantee debts challenging to manage.In the world of small businesses, taking out loans and securing funding often involves personal guarantees, where business owners pledge personal assets as collateral. While this can provide vital capital, it also presents serious risks if financial hardships strike, making personal guarantee debts challenging to manage.
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Archives for Personal Guarantee
How I Turned £195,000 of Debt Into My Mission to Help Others
As featured in the Autumn 2024 edition of Your Business magazine, my journey into debt recovery is not just a career—it’s personal. My name is Ron Mookerjee, founder of Talk to Ron, and I once found myself burdened with £195,000 of personal debt following my divorce.
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The Looming Threat to Small Business Financing: The Removal of the SME Supporting Factor and Does This Affect Your Personal Guarantee?
In the complex web of economic dynamics, small businesses often find themselves at the mercy of various challenges. One such challenge, which has been a recurring nightmare for many, is the issue of late payments. A recent article by the FSB discusses this in a little length.
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