The International Chamber of Commerce (ICC) has released its 2019 Trade Register Report, revealing COVID-19’s potential to disrupt global trade, while also highlighting the low-risk nature of trade finance. The report, produced by the ICC Banking Commission, reiterates the importance for all stakeholders to take the low risk nature of trade finance into account to […]
Banco Santander announced today the completion of its purchase of a c.50.1% stake in Ebury, one of the best international payment, FX and international cash management platforms for SMEs, after obtaining all regulatory approvals from the required authorities. This transaction was announced in November 2019 and is part of the bank’s digital strategy, providing SMEs […]
Independent SME funder, Bibby Financial Services (BFS) has provided a £600,000 funding facility to Tech Professionals Ltd. a technical recruitment company which supplies engineers, technicians and other expert roles across a range of industries, specialising in providing contract staff for off-shore, sub-sea projects such as windfarm construction, power cable laying and underwater robotics testing. The […]
The International Chamber of Commerce (ICC) has provided guidance to the trade finance market to address COVID-19 disruptions, urging governments and central banks to void any legal prohibitions on the use of electronic trade documentation. Responding to the urgent need to address the disruptions facing the trade finance market as the world grapples with the […]
Independent SME funder, Bibby Financial Services (BFS), has provided a £3.5m funding facility to Capital Cooling Refrigeration Limited, a refrigeration specialist with 20 years’ experience in the industry. The West Lothian business based in Broxburn, designs, manufactures, distributes and maintains a range of commercial refrigeration products and bespoke systems to a variety of well-known UK […]
The chancellor should bring forward the implementation date for “Import VAT Postponed Accounting” from 1 January 2021 to 1 May 2020, say leading tax and advisory firm Blick Rothenberg. Alan Pearce the firms VAT partner said: “This arrangement will allow importers to off-set import VAT via their VAT returns, rather than pay it upfront at […]
Alternative SME credit specialist Caple has helped Celestia Technologies Group (Celestia), an international space technology company, to access a €4m (£3.5m) eight-year unsecured cross border loan to support an acquisition and growth. Celestia’s British company, based in Oxford, will use the first loan of €3m (£2.6m) to support the development of a new satellite ground […]
BREAL Zeta Commercial Finance has structured a USD $10,000,000 export receivables finance facility to support the expansion of Sonan Bunkers (UK) Ltd. This transaction, which has an 18-month facility term, delivers more than double the quantum of Sonan’s previous finance facility. Established in 2014 to handle in house shipping fleets together with third-party broking and […]
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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