Company Bug and Drewberry have a partnership to help Company Bug readers set up Business Loan Insurance.
Drewberry has helped hundreds of companies across the country with Business Loan Insurance.
It’s an insurance policy that pays out a lump sum equivalent to outstanding corporate debt if a key person responsible for repaying that debt passes away. Debts can include corporate loans, overdrafts, commercial mortgages, director’s loans and even venture capital funding.
We offer advice on all aspects of this cover, including:
While Business Loan Insurance is not a legal requirement, many lenders and venture capital firms now require you to have some form of protection in place when you arrange business loans.
Unprotected companies face being declared insolvent in the event of a key person unexpectedly exiting the business if they can’t repay a loan.
According to Legal & General, 52% of company directors expect their company to fail within a year if a key person died / became seriously ill. How would your business cope?
I’ve held a policy with Drewberry for several years now. They are always friendly, insightful and offer great service.