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June 2010 Newsletter – Business Loans – What you need to Know

June 24th, 2010 Posted in Monthly Newsletters

If you intend to secure finance for your business through a commercial loan or already have one in place there are a number of important factors to consider.

For example did you know that a commercial lender will often make a business loan subject to repayment on the death of a certain (often key) individual? Alternatively, if finance has come from a director’s loan account, if the director were to die then their estate may demand repayment of the outstanding loan.

While it is unpleasant to consider a worst case scenario, with this in mind have you considered how your business would meet any ongoing loan repayment if one of your key personnel dies? How would you finance full repayment should the lender call-in the loan early?

This is where business loan protection can help. With a policy in place you can help protect the future financial resources of your business if one of your key personnel was to fall critically ill or in the event of their death. In these circumstances, should you have business loan protection in place, a cash sum would be paid out which could be used to help replay the loan amount.

Protecting against the unexpected is a necessary precaution and one which we believe is essential to consider should you have a commercial loan in place. If you would like to discuss the options available with a qualified adviser Speak to us Today to find out more.

We look forward to hearing from you.

For further details or to arrange an interview please use our ‘Contact’ Page.

For a PDF version of this newsletter please click the PDF icon: The Mortgage Store Newsletter June 2010 PDF

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