Fiduciam, the institutionally funded short-term lender, has just completed a Coronavirus Business Interruption Loan Scheme (CBILS) loan for £840,000. The loan was to a children’s nursery in Leytonstone, in North East London, called Harvey House. The CBILS was designed to support the continued provision of finance to smaller UK businesses (SMEs) that have been impacted […]
Experienced business professionals, Anthony Lewis and Jonathan Burgoyne, have recently purchased Bloomsbury Guest House in York, with funding successfully secured by specialist commercial finance broker, Christie Finance. Bloomsbury Guest House, long-established and located in a popular area of York, has been owned by the previous owners since 2009 and has been operated as a lifestyle […]
The extension of the rent holiday for commercial properties is a disaster for landlords throughout the country who have been unable to force businesses who are open and making sales to pay rent since March, say leading tax and advisory firm Blick Rothenberg. Heather Powell, a partner at the firm and head of property said: […]
ClearBank, the cloud-based clearing bank, has become the first clearing bank to offer multi-currency bank accounts via API. In Q4 2020, ClearBank will be able to offer more than 30 multi-currency bank accounts, providing customers with the ability to seamlessly move funds between accounts with real-time foreign exchange pricing based on interbank rates. This functionality […]
The Financial Conduct Authority (FCA) has confirmed that so far in 2020 no criminal prosecutions under the current anti-money laundering legislation have been made, despite its stated intention in 2019 to do so. The revelation came from a Freedom of Information request, which also said it has discontinued half of its 14 investigations into possible […]
West One is making a series of further significant enhancements to its residential and buy-to-let second charge product ranges. This follows the expansion of their product range last month which saw the reintroduction of its ‘Prime Plan’ with rates starting from 3.99%. This latest set of changes is designed to target underserved areas of the […]
Business owners have been the target of a new email phishing scam purporting to be from HM Revenue & Customs (HMRC). The scam, which was uncovered by accountancy outsourcing specialists Lanop Outsourcing, uses official HMRC branding and graphics to convince victims that their VAT deferral application has been rejected. At least 100 company owners have […]
Business bank, Allica Bank, is launching a £100m funding round to help it meet the current high levels of demand for finance it is experiencing from British businesses, and continue broadening services and product lines. The bank, which received full UK banking authorisation in late 2019, has had over £1bn of enquiries from businesses in […]
British Business Investments Ltd, a commercial subsidiary of the British Business Bank, today announces a new £30m subscription in specialist lender Shawbrook Group plc’s £75m Tier 2 note issuance. The investment follows an original £30m subscription to Shawbrook Bank’s previous Tier 2 note issuance in 2015, which has now been repaid. The £30m subscription has […]
The continued impact of Covid-19 is being felt in Britain’s workplaces, as new data from specialist recruiter Robert Half reveals one-in-three businesses are rescoping roles to assist with post-lockdown recovery. The survey of more than 1,500 executives highlights which skills and competencies are most in-demand as managers seek to get back on their feet and […]
July 31, 2020
Edition 286 – June/July 2020
More questions than answers By David Grosse, of Number Eight Business Finance...
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