business loan insurance from Avail

Business Loan Insurance

Business owners put so much time, passion and effort into getting their organisation off the ground and driving progress, but there is also the matter of getting the finances you need to make your dream a reality. For most business owners, this will come in the form of a business loan, which needs to be paid back over an agreed-upon period of time. However, life can throw unexpected curveballs such as long-term critical illness or the unexpected death of a key person, and Business Loan Insurance coverage can help to protect your business in the long-term if the worst were to happen.


By protecting your business in case of your death or critical illness, you’re protecting your passion and creating a legacy that lasts, while giving your family, colleagues and loved ones security, no matter what the future holds. For a suitable Business Loan Insurance policy based on your needs, we encourage you to get in touch with the dedicated insurance team here at Avail Mortgages. We help clients in Leeds and the surrounding areas of Huddersfield, Bradford, Sheffield, York and Harrogate, so we know that we can help you too.


What Are Business Loans?

There are many different types of business loan, and the kind you and your business needs will vary depending on your current financial situation, the type of business you do, the sector you work in, the size of the business, and company’s assets*, for example. Whilst Avail does not directly offer business loan, some common types of business loan include:

  • Secured loans, which require some form of collateral.
  • Unsecured loans, which requires no personal or business collateral to take out the loan.
  • Small business loans, which are set up with the needs and capabilities of small businesses in mind.
  • Short term business loans, which have a repayment duration of two months to two years, on average.

Business loans can be used to get your business started, promote fast expansion, change the direction of your business, invest in new technologies or help drive growth quickly. There are many different reasons to take out a business loan, but whatever your plans, you should always look into business loan guarantee insurance as well to make sure your finances are secure no matter what could happen.

what are business loans?

What Is Business Loan Protection?

Business loan protection provides your business with a guaranteed payment in case of the death or critical illness of the business owner, or another key person in the company*, such as a director or chief officer. This payment can then be used specifically to pay off business loans, which may be paid off in one lump sum or in regular installations.

This protection ensures that even if the business were to lose a key person, the organisation as a whole would be protected from defaulting on business loans due to the financial impact this loss may have. This is also why Business Loan Insurance is sometimes known as ‘business loan default insurance’.

All About Business Loan Default Insurance

Business Loan Insurance is not a legal requirement for most business loans, though some lenders ask for it as a security measure. Whether or not your lender requires Business Loan Insurance, it’s an avenue that all businesses should look into when taking out commercial loans. The financial impact of a key person in your organisation falling critically ill or dying can be incredibly significant, and in some cases can cause organisations to default on their loans, with all the ramifications this has along with it. Business Loan Insurance helps protect and secure the long-term stability of your company, as well as giving employees and the family of key people reassurance and protection in case of the worst.

Business Loan Insurance can protect most types of business loan, including secured, unsecured, small business, and short term loans, as well as commercial mortgages, director’s loans, venture capital loans and other similar lending plans.

Why Choose Avail Mortgages?

We are passionate about helping our customers arrange solutions that make sense for them.

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Out of Hours Support

We know that the life of a business owner never sticks to the 9-5, which is why our advisors are also available to provide out of hours support and services to make sure your needs are met.

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Flexible Customer Service

We’re flexible to your specific needs as far as we possibly can be. For example, we take the time to understand how you and your business prefer to communicate, and match it, whether that’s by phone, email or WhatsApp.

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Access to Top UK Insurers

As experienced and independent brokers, our team have strong relationships with many of the UK’s top businesses insurers. As such, we can source a suitable policy to keep you and your business protected with the right business loan insurance quote.

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Technology That Makes a Difference

We are always looking ahead and trying to stay abreast of new developments in the industry, as well as ways we can make your life easier when it comes to finding the right insurance package for you. Our client portal, for example, allows you to upload any key documents to make sharing the relevant paperwork with insurers as easy as possible. We want to make insurance as simple and hassle-free as possible, providing you with straightforward, unbiased advice that makes sense for your business.


Get In Touch

At Avail Mortgages, we are committed to helping our customers find the right Business Loan Insurance for them, and making the process as smooth and simple as possible. Navigating the world of insurance isn’t always easy on your own, which is why our brokers will be by your side every step of the way.

To find out more about Business Loan Insurance, or to get in touch with one of our experienced advisors in the Leeds and Bradford area, please call us on 0330 118 0383 today.