‘Product-less’ lender, Octane Capital, today announced it has completed on a £1m auction bridge for a client of London-based broker, GI Solutions. When Octane received the pack, the client was already in a 10-day notice period, having been let down at the eleventh hour by another lender. As a result, they faced losing a six-figure […]
Today the British Business Bank has announced that it has approved three new lenders for accreditation under the Bounce Bank Loan Scheme. The scheme is intended to target small and micro businesses in all sectors, with loans from £2k up to 25% of the business’ turnover with a maximum loan of £50k. Allied Irish Bank […]
Subcontractors are entering the most challenging period of the COVID-19 outbreak according to Jim Davis, managing director for construction finance at Bibby Financial Services. With cash reserves all but used up, the resumption of major construction projects will pose a significant threat to the financial viability of many sub-contractors. He explains: “The next 4-6-weeks will […]
An audio visual and IT equipment supplier has been able to help NHS staff work remotely during the coronavirus pandemic with support from Lloyds Bank. Bolton-based IDNS is a leading provider of large-format displays and supplies a range of audio visual and IT hardware and software. Its 5,000-strong customer base includes schools, universities and the […]
Greater Manchester Chamber of Commerce’s fifth weekly Business Monitor survey shows business confidence remains low as employers wait to see how and when the lockdown will be relaxed. The survey results reveal that more businesses reported a decline in sales and orders than those reporting an increase or no change in sales. Most employers appear […]
Freelancers’ confidence in their businesses and the wider economy has been driven to record lows by the coronavirus crisis, according to research by IPSE (the Association of Independent Professionals and the Self-Employed) and PeoplePerHour, Europe’s largest freelance marketplace. Freelancers’ 3-month confidence in their businesses had already fallen to a six-year low last quarter because of […]
The £400m Northern Powerhouse Investment Fund (NPIF) has remained active despite nationwide uncertainty, completing 61 deals worth over £14m since the beginning of 2020. The Fund, which provides a mix of debt, equity and microfinance up to £2m, has continued to invest in small businesses across the north of England and is still very much […]
Simply has just provided Avon Valley Precision Engineering Ltd with a funding package to enable it to pursue growth plans and, at the same time, contribute its expertise and produce parts for ventilators to help in the frontline effort during the coronavirus (COVID-19) pandemic. The firm, which was introduced to Simply by Andrea Maddalena at […]
Today the British Business Bank has announced that it has approved nine new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS), bringing the total number of CBILS lenders to over 60. New lenders Assetz Capital, Atom bank, Ebury, Fleximize, Investec, Social Investment Business, Tower Leasing, Ultimate Finance and White Oak UK, will […]
Specialist asset-based lender Ultimate Finance is today announcing that it has been approved for accreditation to the government backed Coronavirus Business Interruption Loan Scheme (CBILS) by the British Business Bank. The accreditation will allow Ultimate Finance to help close the funding gap faced by SMEs by providing CBILS term loans of £50,001 to £500,000, alongside […]
