Rural and older communities are as ready to join the cashless payments revolution as their younger and city-dwelling counterparts, new research from Hitachi Capital (UK) PLC has found. While studies have found a technological divide between rural and city communities, Hitachi Capital UK’s research of 2,000 UK consumers shows that individuals polled across rural areas […]
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 […]
Float, the cash flow company, today published its “Accounting for change” report, featuring previously unreleased Official Labour Market Statistics from the Office of National Statistics. The report reveals that the industry reached the end of a long-running growth phase prior to the Covid-19 pandemic, recently experiencing increased consolidation among smaller firms and disproportionate growth at […]
The coronavirus pandemic is causing SME owners across the country to take drastic action in order to ensure their business survives. According to research by Nucleus Commercial Finance, one in seven (14%) are using personal savings for immediate financial support despite the options available from alternative lenders. Only a quarter (25%) of SMEs have avoided […]
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 […]
Sandwell Council and technology giant Amazon are the latest big employers to help the region’s economic recovery from the Covid-19 shutdown by pledging their remaining apprenticeship levy to the transfer fund. The WMCA set up the Fund to cover the costs of training apprentices at small and medium-sized enterprises (SMEs) in the West Midlands.The scheme […]
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 […]
Paragon Bank’s SME Lending division continued its support of UK small-to-medium sized businesses during the first half of its financial year with over £200m of new lending, the company announced today. The division lent £200.7m in the six months to the end of March 2020, growing its net loan book to £606.6m. Paragon’s pre-tax profits […]
Construction sites have returned to work after the initial impact of coronavirus. But new research from the Centre for Policy Studies shows that they are simply finishing off existing projects. Cautious estimates suggest housebuilding could fall by around 38% over the next year, leading to 76,000 fewer homes being built. The impact could be far […]
United Trust Bank (UTB) has completed a £10.9m Investment Term Loan for an existing customer affected by the Covid-19 lockdown. Successful property investment business and landlord, Rosewall Properties Limited, typically acquires properties, in this instance a redundant office block, adds value via planning enhancements, before converting/developing and then retains the completed scheme in its substantial […]
