Paragon Bank’s SME lending division supported UK SMEs with nearly £300m of new lending during its last financial year, full year figures released today have revealed. In the year to 30 September 2020, the division lent £288m to SME businesses, local authorities and professional services firms. Overall, SME lending was 29.2% lower than the previous […]
Select Lifestyles Ltd, has been granted a £5m refinance package through ThinCats, the leading alternative finance provider for mid-sized SMEs in the UK. Since opening its first service in 2007, Select Lifestyles now provides supportive services for adults with learning disabilities and complex care needs across 25 sites. The funding will support its ambitious growth […]
Specialist business property adviser, Christie & Co, has announced the sale of Underack Ltd which comprises Westbury Chemist and Baba Chemist in South West London. Combined, the chemists dispense an average of 23,021 items per month, and both are run under management. Westbury Chemist is located on a busy high street in Streatham, and Baba […]
Crystal Specialist Finance (CSF) and lender Together have completed a developer’s purchase and re-development of a £700,000 commercial site in Birmingham in just four weeks. The specialist distributer’s client, an experienced property developer with a large commercial property portfolio, wanted to buy two warehouses and an office on the same site, refurbish the two existing […]
One of the UK’s leading specialist lenders has announced a rebrand following a significant injection of capital investment as the business surpasses the £132m lending mark. SoMo – previously The BridgeCrowd – provides ultra-competitive rates for residential and commercial bridging loans secured over UK property. Rebranding to SoMo, which stands for ‘Social Money Limited’, is the […]
Specialist asset-based lender, BREAL Zeta CF has structured and delivered a flexible funding facility to support the successful Management Buy Out of Serocor, the award-winning resource management and contract recruitment group. The transaction enables the new management team, comprising David Wilson, Leon Howgill and Shaun Pope, to take control of the group and set a […]
Over the last month Fiduciam, the institutionally funded short-term lender to SMEs and entrepreneurs, has completed over £22m of loans to housebuilders under the Coronavirus Business Interruption Loan Scheme (CBILS). Fiduciam lends throughout the United Kingdom and has already granted CBILS loans to housebuilders from rural Devon to Halifax to Belfast. London and the South […]
Newable Ventures and Bristol Private Equity Club (BPEC) have secured £10m in new funding from British Business Investments, a commercial subsidiary of the British Business Bank, to fund early stage businesses across the UK. The £10m commitment from British Business Investments’ Regional Angels Programme will be invested by Newable Ventures, in partnership with BPEC, to […]
Pepper Money has completed a purchase mortgage for first-time buyers with missed credit payments in just 16 days from the initial application. The customers, who were borrowing at 70% LTV to buy a house, had no CCJs or defaults but had late payments on two unsecured credit facilities in the last 12 months. The case […]
Work is under way on a bespoke new housing development by Hull-based Hammond Homes in the North Lincolnshire village of Barnetby le Wold after a £750,000 deal was secured with SME funding specialist One Stop Business Finance. The King’s Park development is the fourth scheme by Hammond Homes and will see the construction of nine […]
29/11/2020
Edition 288 – October/November 2020
An ill wind By Business Money group editor Robert Lefroy Lack of cyber securi...
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