PGicover launched last week. In the first seven days, Canadian business owners have run hundreds of assessments. Here is what stands out so far.
The guarantee is a big factor for many applicants
Most owners knew they had signed personally. Few had calculated the full exposure once interest, legal fees, and personal burden stack up. The typical result shows a potential personal impact well above what the owner had budgeted for in a downside scenario.
Lenders are noticing
Several applicants reported that mentioning the existence of Personal Guarantee Insurance is welcome and may shorten lender pushback. Banks appear comfortable with the arrangement because it does not alter their security position. This matches what we heard from our UK partners.
Who is binding fastest
Owners refinancing existing facilities with renewed personal guarantees. The platform works best when the loan documents are ready but not yet signed. That timing lets owners adjust terms or secure cover before exposure locks in.
What has not changed
Personal guarantees remain standard in Canadian commercial lending. Rising business failures are increasing exposure for directors and owners, so the timing is right for this product.
Next steps for readers
If you have a loan in front of you, run the free PGI assessment today. It takes minutes, requires no personal financial data, and leaves no credit footprint. Early feedback confirms the product behaves exactly as designed: simple eligibility, clear terms, and real protection when it is needed.
Questions or observations from your own deals? Reach out. We read every note and use it to sharpen the next round of improvements.