A Challenger Bank is celebrating reaching a “momentous milestone” having now lent over £250m to its customers in just less than three years. Redwood Bank has continued to lend money over the course of the COVID-19 pandemic, helping out a number of small and medium sized enterprises (SMEs). The Bank has loaned nearly £100m since […]
Genesis Asset Finance (Genesis) has secured a new £1m block discounting facility from Wesleyan Bank. The additional funding will enable Genesis to continue to support businesses under the Coronavirus Business Interruption Loan Scheme (CBILS), as well as underpinning its own growth ambitions. To date, Genesis has approved over £1.1m of CBILS facilities for existing and […]
Funding Xchange, the leading SME finance technology platform has been awarded £5m by BCR as part of the Pool E allocation of the RBS Remedies fund. Funding Xchange was founded in 2014 to transform the SME lending market with the core aims of making SME finance more accessible, affordable, and sustainable. The technology at the […]
The majority (55%) of UK SMEs are being paid later as a result of the pandemic in a trend which is threatening the economic recovery, according to Bibby Financial Services (BFS). More than a third (36%) of SMEs have seen payment times increase by more than three weeks, while 28% have seen an increase in […]
Data published today by Andrews, the south of England property group, shows instructions and viewings were up substantially in July 2020, as the stamp duty holiday announced by the government early in the month gave the market a welcome shot in the arm. Viewings were up 29% last month compared to June 2020, with physical […]
Spending is close to or above normal levels in some outer London suburbs, while in-store purchases are at rock bottom in central London, according to a new report. Overall, the economic impact of lockdown has been just as severe in London as in the rest of the country: unemployment-related benefit claimants have soared, and there’s […]
With news that the UK has entered its deepest recession in recent history, Rapyd, the world’s largest local payments network, has conducted a survey to analyse the impact on consumer spending habits. Compared to results of the same survey in the US which showed 60% of consumers want to shift over to a cashless society, […]
UK SME’s are at risk of 65,000 cyber security attacks daily – with around 4,500 of these being successful – and the figure could be much higher since the beginning of Covid. The findings come from a new report by global recruiter Robert Walters and data provider Vacancysoft – Cybersecurity: Building Business Resilience – which […]
Boe House, the owner of Baby Box Shop, has received a £160,000 loan from Rosebud Finance, Lancashire County Council’s investment vehicle delivered by GC Business Finance, to help it create jobs and increase export sales following support from Lancashire’s Access to Finance team. During 2016, husband and wife, Owen and Kim Burrows, began to design […]
New bus and coach registrations fell -77.1% in the second quarter of this year, with just 328 units joining British roads, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). The decline follows an almost complete standstill of public road passenger transport as pandemic lockdown measures were implemented throughout the […]
