Today the British Business Bank has announced that it has approved two 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. Bank of Ireland […]
New research from Aldermore, the specialist bank, reveals that the Covid-19 pandemic has led to a 34% loss in business income for millions of the UK’s small to medium-sized enterprises (SMEs). Despite this, many business owners are fighting back against the impact of the outbreak on their bottom lines by reacting quickly and adjusting their […]
Covering the four weeks 5 April – 2 May 2020 On a total basis, sales decreased by 19.1% in April, against an increase of 2.4% in April 2019. This is the worst decline recorded since our monitor began in January 1995, reflecting the effect of lockdown measures. It is below the 3-month and 12-month average […]
Consumer spending contracted by 36.5% year-on-year in April, showing the impact of ongoing social distancing measures. Data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, reveals that spending on essential items declined by 7.5%, which can largely be attributed to a 58.9% reduction in fuel spend. Supermarkets, meanwhile, continued […]
British Business Investments Ltd, a commercial subsidiary of the British Business Bank, announces today a commitment of £35m to Harwood Private Capital UK LP at its first close of £70m. The fund will focus on deploying £3m to £15m into UK founder, family and management owned businesses, with flexible capital investing across the capital structure. […]
Today the government published new statistics that show businesses have to date benefited from over £14bn in loans and guarantees to support their cashflow during the crisis through schemes delivered by the British Business Bank. This includes 268,000 Bounce Back Loans worth £8.3bn, 36,000 loans worth over £6bn through the Coronavirus Business Interruption Loan Scheme, […]
A dental business that is one of only a handful of practices in Cambridgeshire appointed to provide emergency care has secured a Lloyds Bank loan to help it trade through Covid-19 disruption. Cambridge-based Antwerp Dental Group has been classified as an Urgent Dental Centre by England’s chief dental officer, meaning it receives referrals from NHS […]
Figures announced by the chancellor today show that the banking and finance industry has provided almost £15bn to over 304,000 businesses so far through the three major government-backed lending schemes. Lenders are working hard to provide support under the schemes to businesses of all sizes, with the Bounce Back Loan Scheme (BBLS) targeted at sole […]
Specialist social impact lender, GC Business Finance (GCBF), has provided Senate Training with a CBILS-backed loan through NPIF – BFS & MSIF Microfinance, which is part of the Northern Powerhouse Fund (NPIF), Alsager-based Senate Training was established 20 years ago by husband and wife Paul Keeling and Janet Keeling. The business operates a Global Security […]
Bespoke uniform creator, Jalin Design, has secured a loan of £250k from Santander UK through the Coronavirus Business Interruption Loan Scheme (CBILS) to support the business through the coronavirus pandemic. Created ten years ago by husband and wife Jason Lurie and Lindy Kursten, Jalin Design creates high end uniforms for some of the world’s most […]
