Alternative finance provider, Reward Finance Group, which has offices in Leeds and Manchester, has posted record year-end figures for the ninth consecutive year. In the year ending February 2020, income increased by 16 percent from £12.8m to £14.9m with total lending growing by 12% to £78m. During the year 142 deals were completed, with client […]
Fintech business lender MarketFinance has been given the green light by the British Business Bank to operationally start lending business loans and invoice finance as a lender under the government-backed Coronavirus Business Interruption Loan Scheme (CBILS). CBILS is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. […]
1pm plc (AIM: OPM), the AIM listed independent specialist provider of finance facilities to UK SMEs, announces a further and final issue of new ordinary shares of 10p each in the Company (“Ordinary Shares”) to satisfy the achieved earn-out consideration in respect of the Company’s historical acquisition of Positive Cashflow Finance Limited (“Positive”). The Company […]
Europe-wide research commissioned by innovative financial infrastructure provider Banking Circle has found that nearly two thirds (64.6%) of online merchants have needed extra finance in the past two years (excluding borrowing due to the current COVID-19 crisis). Nearly a quarter (23%) needed the additional funding to cover payroll, and a further 26.5% to cover regular […]
Loan covenant disputes caused by the coronavirus crisis are likely to impact almost all industry sectors in the coming year, unless lenders and investors work together to resolve problems caused by covenant breaches, says RPC, the City-headquartered law firm. RPC says more loan covenant disputes, outside of the real estate sectors, will occur as the […]
Specialist asset-based lender Ultimate Finance is today announcing that it has expanded its Coronavirus Business Interruption Loan Scheme (CBILS) accreditation to include asset finance products. Ultimate Finance’s accreditation by the British Business Bank for the CBILS asset finance variant will enable the company to utilise its broad expertise to provide funding to SMEs to support […]
One in five highly skilled freelancers expect to have to close their business because of the Covid-19 crisis, according to new research by University of Edinburgh Business School in association with IPSE (the Association of Independent Professionals and the Self-Employed). The study, which surveyed over 1,400 highly skilled freelancers (Standard Occupational Groups 1 and 2), […]
A Doncaster fish merchant is working overtime to meet demand from fish and chips shops across the North of England as lockdown restrictions are eased, with support from Lloyds Bank. The majority of Warners Fish Merchants’ customers, which include fish and chip shops, restaurants and catering businesses, closed their doors when the government-mandated lockdown came […]
SSGC Ltd, a security services business based in Swindon, has experienced a surge in growth due to Covid 19 forcing it to adapt to the new changes and meet the everchanging demand. The coronavirus pandemic has led to a number of changes to UK businesses, with many having to adapt to the new changes brought […]
Trade credit insurance, which provides essential cover to hundreds of thousands of business-to-business transactions, will receive up to £10bn of government guarantees, ministers announced today. The Trade Credit Reinsurance scheme, which has been agreed following extensive discussions with the insurance sector, will see the vast majority of trade credit insurance coverage maintained across the UK. […]
