Stay on top of a repayment plan

Research released this week revealed the dwindling number of SME bank loans in the UK. According to Funding Options, the drop in loans totals to a value nearing$145 million every month, primarily because of regulatory changes on bank overdrafts.

This underscores the fact that even the most successful businesses are at risk of their overdrafts being cut with almost no notice, a risk that comes from unsecured loans.

Growth Business spoke to Richard Kateley, head of specialist protection at Legal amp; General on how SMEs can risk-proof their loans and work out a manageable repayment plan.