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 […]
The company behind the UK’s first innovation event for the road transport sector – due to feature a keynote speech by astronaut Major Tim Peake – has rescheduled the show for 2021, retaining all exhibitors and sponsors, with the support of Lloyds Bank. Warwick-based Binswood Media had a full line-up planned for the inaugural Innovation […]
Insulation and fire protection expert Aran Services has secured £1.5m in working capital from Independent Growth Finance (IGF). The funds, which were raised using invoice discounting, were used to support the recent MBO and to provide working capital to support the continued growth of the business. Founded in 2004, the Suffolk-based company specialises in domestic […]
An East Lothian recycling business has seen its online sales more than triple and has stepped up its local delivery service with the support of Bank of Scotland. It is believed that the jump in sales is partly as a result COVID-19, with more people spending time at home and in their garden. Forth Resource […]
A photographic agency whose order book emptied in a flash after the coronavirus outbreak says it expects to benefit from a boom in new business once lockdown is over, thanks to support from Lloyds Bank. United National Photographers (UNP) was founded in 1997 by picture editor and managing director Hamlet Mejloumian and is now the […]
One in ten British businesses face a high risk of entering insolvency as a result of the coronavirus pandemic. This equates to more than half a million (591,000) businesses pushed to the brink. Meanwhile, just over half (51%) of businesses state there is at least a small risk they will go insolvent due to the […]
The former head of the UK’s leading trade association for fine art and antique auctioneers says in six short weeks the industry has changed forever – and his own sales are evidence of this. Chris Ewbank, who held a three-day auction to celebrate 30 years in business as the country went into lockdown, says he […]
A company that makes mobility equipment for organisations including the NHS and charities has secured a Lloyds Bank loan as it grapples with a slowdown in orders because of COVID-19. Quest88, whose products include equipment for children with cerebral palsy, has agreed a £200,000 funding package with the bank via the government’s Coronavirus Business Interruption […]
Chartered Accountants Wylie & Bisset has cautioned business owners against seeking to borrow their way out of COVID19 financial difficulties and urged them to engage with financial advisors before rushing to submit a CBIL (Coronavirus Business Interruption Loan) application. While acknowledging the speed with which the Scottish and UK governments have established the CBIL scheme, […]
