Businesses that find financing through the Swoop marketplace can now insure the personal guarantee behind the loan, with applications starting at app.pgicover.com
TORONTO, ON, Sept. 18, 2026. Swoop, the business funding marketplace that matches Canadian companies with loans, grants and equity from more than 1,000 funding providers, and PGicover, the first provider of Personal Guarantee Insurance in Canada, today announced a partnership to help business owners protect their personal assets when a lender requires a personal guarantee.
Under the partnership, Swoop will introduce Personal Guarantee Insurance to businesses arranging financing through its platform, using a tracked referral link so each business can apply directly with PGicover. PGicover arranges the policies, which are underwritten by a regulated insurer. Business owners can begin an application at app.pgicover.com.
Partnership details
Swoop lets a business apply once and be matched across lenders, grant programs and equity providers, with technology built by accountants to cut the time and friction of raising money. Most business loans arranged through any marketplace share one condition: the lender asks the owner to personally guarantee the debt.
A personal guarantee is a promise that the owner will personally repay a business debt if the company cannot. It sits outside the corporation, so limited liability does not protect against it. It is typically only enforced after the business has already failed, turning a business loss into a personal one that can reach the family home, savings and retirement assets.
Personal Guarantee Insurance is a policy held by the director who signed the guarantee. If the business enters an insolvency process and the lender enforces the guarantee, the policy reimburses the director for a defined share of what they paid, up to the policy limit, after a deductible. The guarantee itself is unchanged. The lender's rights are unchanged. The policy reimburses the guarantor, not the bank.
Why it matters
Swoop reports more than 311,000 customers and over $2.5 billion in completed funding across its markets, according to figures published on swoopfunding.com in 2026. Every one of those loans that carried a personal guarantee put an owner's personal balance sheet behind the business. Until now, a Canadian owner had no insurance option for that exposure. They either accepted it or turned down financing that would have grown the business.
The exposure is significant. Loans under the Canada Small Business Financing Program averaged roughly $294,000 in recent years, and those loans generally require personal guarantees. In acquisition and expansion lending, personal exposure commonly falls between $250,000 and $500,000. Canadian business insolvencies rose 28.6 percent in 2024, the sharpest increase in years.
What the partnership delivers
- For Swoop customers: a regulated insurance option for the personal guarantee, offered at the point where financing is arranged, with an online application that takes about ten minutes and returns an instant pre-approval.
- For the accountants and advisors who use Swoop: a concrete answer when a client asks what happens to their house if the business fails, without any change to the loan or its security.
- For PGicover: reach into a national flow of businesses at the exact moment they are signing a guarantee.
Personal Guarantee Insurance is available to directors of private companies incorporated in Canada, outside Quebec, who have signed or are about to sign a personal guarantee of at least $50,000 in support of a business loan. Guarantees up to $1,000,000 are considered, and startups are eligible. Coverage is claims-made: it applies only to claims made and reported while the policy is active and premiums are paid in full. The policy does not prevent default, insolvency or business failure. It caps what a failure costs the owner personally.
Statements
PGicover said Swoop reaches business owners at the moment financing is being arranged, which is exactly when the personal guarantee question should be answered. The company added that the partnership changes nothing about the loan or the lender's position. It changes what a business failure would cost the owner's family.
How to get started
Businesses arranging financing through Swoop can apply through Swoop's partner link at app.pgicover.com/r/swoop-funding, which connects the application to the partnership. Anyone else can apply directly at app.pgicover.com. The application asks for basic details about the company, the loan and the guarantee, and may request a loan document or recent financial statements. A firm quote follows underwriting.
Accountants, brokers and advisors who would like their own tracked link can sign up as a PGicover partner at app.pgicover.com/partner/signup. The link is the first thing you see once you are in.
Before signing any guarantee, owners may also find it useful to review the PGicover checklist of questions to ask before you close.
About Swoop
Swoop is a business funding marketplace that helps small and medium-sized businesses find and secure loans, grants, equity and savings through a single application. Founded in the UK and operating in Canada, the United States, Ireland and Australia, Swoop's Canadian office is in Toronto. Learn more at swoopfunding.com/ca.
About PGicover
PGicover offers Personal Guarantee Insurance to Canadian business owners and is the first provider of the product in Canada. Policies are underwritten by a regulated insurer and administered by a specialist personal guarantee insurance team. PGicover is a brand of PGI Canada Ltd. Visit pgicover.com or apply at app.pgicover.com.
Further information
For media enquiries, partnership questions or anything else, reach PGicover through the contact page at pgicover.com/contact.