Hypothetical question regarding IVA and business loans

[TheCarpetCleaner]

Not for me thankfully!

We were having the usual pub discussions the other day, was hoping you could shed some light on this one.

Based on this scenario -

There is a company that has been trading for 8 or so years. The company does not have debts, and is not or has ever been behind in payments, and has a full business bank account which also has not ever had an overdraft, or has become overdrawn.

There are 3 equal share directors of the company.

One director is going through an IVA agreement, or a debt repayment plan through an agency the other two are financially stable.

Would this affect the ability to get a business loan for the business, based on the fact that one director has an IVA or valid payment plan showing against them? Or do business loans for ltd companies only get rated on the trading status of the company?

[plasticpig]

If a personal guarantee to secure the loan is required then the personal finances of the directors certainly comes into play. It's quite difficult to get corporate finance without personal guarantees at the moment; at least for small businesses.

[johnfm]

Does the shareholders agreement have any provisions re:insolvency?

Companies act?