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Finance in Fifteen - What are the different Legal Charges taken by Lenders
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In this final block of *Finance in Fifteen*, David and Trevor look at why lenders protect themselves by taking a legal charge over a business and/or specific assets.
In the previous episode, they explained why lenders ask for Personal Guarantees. A charge, however, offers a different level of security, and it is important that business owners clearly understand what this means and how it affects them.
As is often the case in business finance, things are rarely simple and not always explained well. Lenders may take fixed charges, floating charges, or sometimes a combination of…
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