The practical answer
Some proposals may be considered without one, but requirements depend on the lender, company, asset and exposure.
State the preference at the start and provide the financial and asset information needed for assessment. Strong trading does not establish a universal right to unsecured director obligations.
Compare the complete offer, including initial payment, cost and other security, rather than looking only at the guarantee. Ask for written confirmation of any guarantee requirement and never assume it has been waived.
Commercial finance is subject to status, lender approval and the specific asset and transaction. The right structure depends on the complete circumstances of the business.
What should I do next?
Have the asset details, supplier information and an outline of what the business needs ready. DCF can then discuss the requirement and identify which lenders may be suitable.
Read: New-start asset finance →