Category: Commercial

Over £27 billion in loans and guarantees delivered to businesses as part of the Coronavirus loan schemes

The Government has now delivered more than £27 billion in loans and guarantees through its landmark Covid-19 loan schemes, it has been announced.

Government to guarantee B2B transactions currently supported by Trade Credit Insurance

The Government will supply thousands of businesses with Trade Credit Insurance to ensure that they can continue to trade with confidence, it has been announced.

Over £2 billion in Bounce Back Loans approved on day one

More than £2 billion of business loans were approved on the 4th May, the first day of the Bounce Back Loan Scheme, official figures have revealed.

Experts heed caution as official figures reveal fall in company insolvencies

The number of businesses filing for insolvency fell in the first three months of 2020, new figures have revealed. While it appears encouraging that the number of insolvencies is lower than usual, multiple experts have warned of a “pincer movement” in the second quarter of the year, with a “surge in limited companies going bust…
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Over 40 lenders have been approved to participate in the Coronavirus Business Interruption Loan Scheme

More than 40 banks, building societies and alternative lenders have been approved to provide finance under the Coronavirus Business Interruption Loan Scheme (CBILS).

Only 20% of loan applications approved under the Coronavirus Business Interruption Loan Scheme

Official figures have revealed that the Coronavirus Business Interruption Loan Scheme (CBILS) has now raised over £1.1 billion for small and medium-sized enterprises (SMEs), however, just over 6,000 of over 28,000 applications have been approved, suggesting more needs to be done to get cash into the hands of struggling businesses.

Eligibility restrictions for small businesses – Enterprise Finance Guarantee scheme

The Enterprise Finance Guarantee (EFG) supports small businesses by providing finance to smaller businesses that cannot obtain finance from their lender because of insufficient security. The British Business Bank has now announced that a number of eligibility restrictions are in place because of the European Union’s (EU) state aid rules.

Commercial property: Business rates for small retailers abolished for one year in Budget

Chancellor Rishi Sunak announced that business rates for small retailers will be abolished for one year in his first Budget last week.