The answer in more detail
When the bank lend your company money under the CBIL scheme they will ask for a personal guarantee from one or all of the company directors.
If your company closes, for example due to liquidation, and there are insufficient assets the bank can ask you up to pay up to 20% of the loan back but no more. Additionally, the bank are not allowed to take your main home called your principal private residence as security. Any shortfall on the 80% of the loan is paid by the Government.
