The British Business Bank has announced that it has approved four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS) – The Co-operative Bank, Cynergy Bank, OakNorth Bank and Starling Bank. Following their approval, each lender will be putting in place the operations required to start lending under the scheme and will […]
iwoca, one of Europe’s largest business lenders, is supporting UK-wide initiative #StockUpSmall, to inspire the public to use local businesses at this crucial time. Attitude of British public towards small businesses Research by iwoca pre-pandemic, carried out to understand the loyalty of the British public, suggests that they are more sympathetic towards small business struggles […]
Sidetrade the Artificial Intelligence platform dedicated to accelerating company revenue and cashflow, is now offering its accounts receivable platform free of charge to small and medium-sized enterprises to help them to collect cash more quickly in these difficult times. Inspired by Rishi Sunak, British Chancellor of the Exchequer, Sidetrade recognises the urgent needs of smaller […]
LendInvest, the UK’s leading platform for property finance, has updated its product catalogue in response to recent market turbulence, and confirms that it intends to continue lending. LendInvest has limited bridging loan LTVs to 70% for residential property and 60% for commercial property. For buy-to-let (BTL), LendInvest has limited LTVs to 70% and will lend […]
ABL platform provider Dancerace launched their ‘f3’ app this week to help lenders make faster funding decisions and enable SMEs to access emergency government funding and working capital more quickly during coronavirus. Businesses of all sizes face a cashflow crisis. More than a third of UK SMEs are expected to run out of cash by […]
A UK entrepreneur has developed an e-commerce product that will enable local retailers to provide their products through an online shop. The software is called BuyLocalShops.com and will let shops supply goods to their local communities. When a shop signs up to the service they are then able to access their own area on the […]
Investors on the Assetz Capital platform have overwhelmingly voted to provide forbearance to borrowers during these extraordinary times and to extend their loans for an initial three months, where needed. The vote – carried out over the last week and open to all platform investors– saw only 1.7% of lenders vote against borrower support, meaning […]
FIBA, as part of the SimplyBiz Group, is pleased to announce that its members can access the package of additional support, designed to help the 3,700+ adviser and broker firms who use SimplyBiz Group services, during the COVID-19 crisis. The package offers support over four key areas including cashflow management, client communication, financial support signposting […]
Alternative SME credit specialist Caple has helped Celestia Technologies Group (Celestia), an international space technology company, to access a €4m (£3.5m) eight-year unsecured cross border loan to support an acquisition and growth. Celestia’s British company, based in Oxford, will use the first loan of €3m (£2.6m) to support the development of a new satellite ground […]
The government has announced that the self-assessment tax payment due on 31 July can be automatically deferred until 31 January 2021 and there will be no interest charged. But should everyone automatically take advantage of this concession? This raises an interesting issue for partnerships and LLPs. Whilst such structures are most commonly used by professionals, […]
