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Follow on Google News | Asterisk Financial Now Approved to Sell Personal Guarantee Insurance in 38 States, Dist. of ColumbAsterisk Financial Inc. has been approved to sell its patented Personal Guarantee Insurance (PGI) in several new states, bringing the total to 38 plus DC just 16 months after its launch in June 2010. Plans call for nationwide coverage by early 2012.
By: Asterisk Financial Inc. Recent states that have been added include California, Texas and New Jersey. Personal Guarantee Insurance is the first-ever insurance product protecting small-to-medium- In today’s restrictive lending environment, banks are requiring most of those seeking a business loan to sign a personal guarantee. With the stroke of a pen, a loan recipient exposes their personal assets, such as real estate and bank accounts, as additional sources of debt repayment. Banks can then pursue these assets as repayment by “calling in” the personal guarantee in the event of a business loan default. For the guarantor, the results can be catastrophic, exhausting their means to restart their business and in some cases losing their homes. For the first time, loan guarantors – including business owners, commercial real estate investors and limited partners – can have a substantial portion of their net liability covered through PGI if the underlying business should fail. “As we’ve gotten PGI approved in state after state during the past two years, we’ve found that loan guarantors across the country are seeing the value of our unique offering,” said Mark L. Ricciardelli, CEO of Asterisk Financial. “It gives them peace of mind knowing their personal assets are protected” PGI, an admitted policy (i.e. regulated by the licensing state), is currently available from insurance agencies in 38 states, just 16 months after its introduction. Interested agencies should contact their wholesaler. More information is available at www.personalguarantee.com/ About Asterisk Financial For more information on Asterisk Financial and PGI, please visit http://www.personalguarantee.com/ # # # MarX Communications is the B2B public relations agency that gets the right people talking About You. We create visibility, credibility, and yes, sales leads. End
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