Hitachi Capital (UK) PLC today announces its latest set of financial results that demonstrates significant growth for the eleventh consecutive year. Profits grew yet again in FY19/20, by 5.1% to £129.4m which, alongside a 2% growth in new business volume and 6% growth in net earning assets, has contributed to a compounded annual growth rate […]
Tens of thousands more homes and businesses in East Yorkshire and North Lincolnshire are set to gain access to high-speed fibre broadband thanks to a new £30m funding package secured by broadband provider KCOM. The two-year funding facility, provided by Lloyds Bank, will support the £280m turnover telecoms business to extend its full fibre network […]
New monthly corporate insolvency statistics out today (June 12) show a decrease in May, compared to a year ago, but this week Treasury figures also revealed businesses have borrowed just under £35bn in emergency loans. The Insolvency Service, which is now publishing the statistics monthly, said there were 944 company insolvencies in England and Wales […]
Mitchells & Butlers, one of the largest operators of UK restaurants, pubs and bars, has secured £100m of funding from Santander UK and HSBC UK as part of the Coronavirus Large Business Interruption Loan Scheme (CLBILS). Established in 1898, the Group operates 1,700 sites across the UK, including Harvester, Toby Carvery and All Bar One. […]
Branded footwear retailer Charles Clinkard is set to reopen all of its stores in the coming weeks, with the support of Lloyds Bank. The Middlesbrough-headquartered retailer, which has more than 30 stores and concessions across the UK, has secured a £2m Coronavirus Business Interruption Loan via its long-term banking partner Lloyds Bank. The funding, which […]
The International Islamic Trade Finance Corporation (ITFC), member of the Islamic Development Bank (IsDB) Group, has approved a US$15m Murabaha Financing Facility in favour of City Bank Limited in Bangladesh to support the Bank’s private sector businesses, particularly SMEs importing raw materials from the international markets. City Bank is the latest partner institution to work […]
The Northern Powerhouse Investment Fund (NPIF), delivered by British Business Bank, has made 66 investments in 47 York, North Yorkshire & East Riding based small growing businesses, with funding exceeding £23m in the region. NPIF which has been investing since February 2017, delivering equity finance, debt finance, and microfinance solutions ranging in size from £25,000 […]
Today the British Business Bank has announced that it has approved a new lender for accreditation to the Bounce Back Loan Scheme (BBLS), five new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS) and four new lenders under the Coronavirus Large Business Interruption Loan Scheme (CLBILS). Paragon Bank will join the other […]
The banking and finance industry has backed over 830,000 UK businesses through the government’s coronavirus loan schemes. Figures published by HM Treasury today reveal that lenders have provided £34.9bn through the three major government-backed lending programmes. £3.6bn has been granted to 85,000 businesses in the past week, with more applications expected to be approved in […]
Academy Leasing (“Academy”), the specialist asset financier and part of the 1pm Group of Companies, has supported a Welsh-based cheese manufacturer secure a major supermarket contract. Academy has enabled them to invest in a vital piece of specialist equipment through the provision of a £77k asset finance facility. The family-owned business Blaenafon of Cheddar […]
