The British Business Bank has announced that it has approved four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS), which provides financial support to smaller businesses (SMEs) across the UK that are losing revenue and seeing their cashflow disrupted, as a result of the Covid-19 outbreak. The new CBILS lenders are […]
Tregenna Castle Resort, in St Ives Cornwall has secured a £1m loan from Lloyds Bank to help secure the business’ future after the hotel, self-catering, leisure and events venue was forced to shut amid the COVID-19 lockdown. The coastal resort secured the finance in preparation for a significant drop in revenue, with quarantine restrictions falling […]
Every day presents a new challenge for those that are running a business. You’ve got to think about boosting sales figures, keeping costs in check, potential future opportunities to grow and how the evolving economy will affect your business plan. Most of these will give you little room to manoeuvre, especially in an uncertain economy. […]
Since the beginning of March relationship managers have been working tirelessly, talking to tens of thousands of business customers to understand how COVID-19 is impacting them and to provide support where it is needed. As part of the Group’s commitment to lend £18bn this year, a £2bn fund was allocated for businesses impacted by COVID-19 […]
Gener8 Finance, the invoice finance provider to small businesses across the UK, has supported a fabrication and welding firm with an additional cash flow funding facility. Stortford Sheet Metal is using the uplifted £200,000 invoice finance funding to manufacture medical boxes for the Nightingale NHS Hospital in London, in a bid to help support the […]
As the world’s economy and business ecosystem remain in a state of flux following the outbreak of Covid-19, the UK’s leading freelancing platform, PeoplePerHour, has reported an unprecedented rise in both freelancer signups and demand for talent in certain areas. During the first 26 days of March 2019, the platform gained 25,673 new signups. During […]
An East Ayrshire car and van rental business is supporting key workers that rely on its services during the coronavirus crisis, thanks to new financial support from Bank of Scotland. Compass Self Drive in Kilmarnock is a family business that operates with a fleet of 80 vehicles available to rent to both commercial and private […]
Governments should hold off on giving their citizens money until after the lockdown is over, finds new insights by the University of Cologne. In an attempt to counteract an economic crash, governments in Hong Kong and the US are giving their citizens equivalent to 1,200 euros to help stimulate their economies. However, Dr Michael Thoene, […]
A consortium of fintech companies has formed to offer the government the ability to speed up the allocation of SME loans in response to Covid-19. It is designed to focus on small businesses that need up to £150,000 loans to stay solvent and manage cash flow, and is calling for £5bn government funding to kick […]
Research from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, reveals that community spirit and support for local businesses is flourishing amidst the challenging circumstances brought about by coronavirus. The findings show that four in 10 (41%) Brits have checked in on vulnerable neighbours to see if they need help […]
