What is supplier invoice finance?May 21, 2020
How fast are unsecured business loans?May 21, 2020
Unsecured facilities can be in the company name. As such, there is a need to tie up personal security in company borrowing.
Importantly, a loan facility in the directors’ names would require adjustments to personal and business financials.
- Accounting for a loan from you personally (director) to the company.
- PPSR from you personally to the company to protect your loan to the company. As such, a PPSR would protect you in the event of a company wind up.
These are additional work; however, help protect personal assets. Although secured facilities have other benefits; such as lower repayments and longer loan terms. However, unsecured facilities have different risks and benefits.