Director’s Personal Loans – Risk v Reward

A loan may save the business, but will it put your personal wealth at risk?

When Bestival owner, DJ Rob Da Bank, was sued for failing to pay back a loan used to shore-up the business, it became a masterclass in the legal pitfalls surrounding directors who borrow for the business.

IFA Magazine asked Helen Young to explain the dos and don’ts for company directors who are thinking of borrowing in their own name. The tips and pointers Helen provides will help independent financial advisers to steer their clients in the right direction so they can put the right limits and protections in place. You can read the article in full here.

For help and advice on this topic or related issues, please do not hesitate to contact Helen Young on 01727 798068, or email helen.young@salaw.com.

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Every care is taken in the preparation of our articles. However, no responsibility can be accepted to any person who acts on the basis of information contained in them alone. You are recommended to obtain specific advice in respect of individual cases.