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 […]
Specialist social impact lender GC Business Finance has provided AWT International with a five-figure Northern Powerhouse Investment Fund (NPIF) loan using backing from the Coronavirus Business Interruption Loan Scheme (CBILS). Radcliffe-based AWT International manufactures racking trolleys specifically for glass handling equipment. Its products include a range of glass and profile handling equipment ranging from racks, […]
Last Autumn parts of the UK saw twice the average seasonal rainfall. This was followed by some of the worst winter floods in memory. A poll by Farmer’s Weekly asked farmers if 2019 was, weather-wise, the worst ever: 81% said it was. Anecdotal evidence suggests drilling was delayed on many farms, especially in the North […]
Businesses are faced with a critical decision on whether to furlough more workers tomorrow (Wednesday) , but without knowing how the government plans to fully re-open the UK’s economy, say leading tax and advisory firm Blick Rothenberg. Nimesh Shah, a partner at the firm said: “The government have not provided a road map for businesses, […]
Notifications
