It is a well known fact that many small businesses have been finding it difficult to obtain the business loan they require to keep their company going since the credit crunch, largely due to the reluctance of high street banks to offer loans to anyone in the current economic climate. However, the full extent of this problem has become apparent following the results of a survey conducted by the loan company Borro, which has revealed that around 12 per cent of small business owners in the UK have had to use their own home as security for a business loan over the course of the past twelve months. The survey also found that somewhere in the region of a further third of business owners would be prepared to consider using their home as loan security for a business loan, if they were unable to obtain finance from another source
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10 Per Cent Of Bosses Use Their Home As Loan Security
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