More small businesses are seeking finance for growth initiatives, with a 19% rise in applications for this purpose, the highest since Q1, 2021.
Personal guarantee insurance applications surged post the General Election announcement, marking June as the second-highest month for such applications from small business owners/directors.
There has been a 69% year-on-year increase in applications for Personal Guarantee Insurance for Small Business Loans in Q2 2024 vs Q2 2023.
The average cover for a personal guarantee saw a significant 33% rise in Q2 2024 compared to the same quarter in 2023, reaching £195,051.
#small-businesses #finance-for-growth-initiatives #personal-guarantee-insurance #general-election-effect #small-business-loans
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