2 min read
What unsecured really means
An unsecured loan has no charge over specific assets, so the lender cannot simply seize them. But the company still owes the money. The lender can chase payment, record a default, and take court action to recover.
Where the director stands
Without a personal guarantee, that recourse is against the company, not you personally. So unsecured plus no-PG limits security and personal exposure, while the company remains responsible for the debt. Talk early if you cannot pay — see what to do.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online.
Frequently asked questions
If a loan is unsecured, can I just not repay it?
No. Unsecured means no charge over assets, but the company still owes the debt and the lender can demand payment, record a default and pursue it through court.
Does unsecured mean the lender cannot touch me?
It limits security. Without a personal guarantee, recourse is against the company, not your personal assets — but the company remains liable.
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.