Linked Finance, Ireland’s leading peer-to-peer (P2P) lending platform, has launched a new “Deferred Start Loan” for businesses affected by the coronavirus. The innovative 15-month loan allows businesses to borrow up to €100,000, with repayments due in 12 monthly instalments after the first 3 months, during which no interest or capital repayment will be paid. The […]
We’re mindful that many businesses and households are struggling, that circumstances are changing fast, and some of you have asked where to find information. This may not be comprehensive but we have tried to collect together the most obvious places where you can check what support is available and how it will be delivered. There […]
The Association of Alternative Business Finance (AABF), representing many of the new lenders that have been the backbone lenders of many businesses following the exit of the main high street banks from lending to small businesses, is demanding that the government extends availability of the new 80% Covid19 Government Guaranteed Loan Fund to all the […]
Over the last decade, business peer-to-peer lending, also known as crowdlending, has become an appealing alternative financial source for many European companies. Although lending platforms are not immune to the disruption caused by the pandemic, the latest data show that P2P investments may be unrelated to the stock market slides caused by the coronavirus outbreak. […]
The UK government’s unprecedented business aid package is going to be heavily targeted by organised crime, warns Sam Tate, a regulatory partner and white-collar crime expert at RPC, the City law firm. Risks will centre around false applications for small business grants of up to £25,000 each – and boiler room fraud operations could see […]
Rangewell, the business finance specialists have been monitoring the Coronavirus Business Interruption Loan Scheme (CBILS), which was launched by the British Business Bank yesterday. After speaking to banks and to the firms Rangewell has listed their assessment. The first is that CBILS is based on the foundation of EFG Loan Scheme, a programme Rangewell’s financial […]
This weekend a team of self-isolating entrepreneurs from London’s burgeoning fintech sector – built a proof of concept which aims to support the UK’s 5m self-employed in the COVID-19 economic crisis. The idea allows a self-employed person to self-certify and evidence their loss of income due to coronavirus through a web site. The service then […]
FIBA, the specialist finance trade body, has announced the appointment of YBS Commercial to its growing lender panel. YBS Commercial is a mutual lender and part of the Yorkshire Building Society Group. Operating from four regional hubs in Birmingham, Bristol, Manchester and Peterborough, it provides commercial investment, buy to let and SME owner occupier facilities. […]
Chester-based EdTech firm Gluu, which aims to increase teaching capacity through technology, has received a £100,000 loan from NPIF – BFS & MSIF Microfinance, a product managed by GC Business Finance & MSIF and part of the Northern Powerhouse Investment Fund (NPIF). Incorporated in 2016, Gluu’s purpose is to find the best EdTech practices and […]
Announced by the Chancellor at Budget 2020, the Coronavirus Business Interruption Loan Scheme (CBILS) opens for applications today and can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. Delivered by the British Business Bank, through 40+ accredited lenders […]
