Chartered Accountants Wylie & Bisset has cautioned business owners against seeking to borrow their way out of COVID19 financial difficulties and urged them to engage with financial advisors before rushing to submit a CBIL (Coronavirus Business Interruption Loan) application. While acknowledging the speed with which the Scottish and UK governments have established the CBIL scheme, […]
1pm plc, the AIM listed independent specialist provider of finance facilities to UK SMEs, has today been approved for accreditation by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS), term loan and asset finance variants. The British Business Bank has approved 1pm Finance (UK) Ltd, a wholly-owned subsidiary of 1pm plc, […]
SME manufacturing output fell at the quickest pace in over a decade in the quarter to April, according to the latest CBI SME Trends Survey. This sharp fall is largely attributable to the COVID-19 crisis, with over four out of five firms noting that the measures to contain the outbreak had a negative impact on […]
Nucleus Commercial Finance has provided a £1.3m facility to steelwork specialist firm Leyton Group, enabling the business to take on larger projects and expand across the UK. Founded in 2011, Leyton Group is a leading specialist in steel staircase design, manufacture and installation, currently operating mainly across London and the south. The business has completed […]
Independent SME funder, Bibby Financial Services (BFS), has provided a £6m funding facility to Bright Green Plastics Ltd, a plastic recycling specialist with over 100 years’ combined experience in the industry. The West Yorkshire business was established in 1992 as a subsidiary of the LINPAC Group Ltd, and in late 2019 they were acquired by […]
Thanks to an investigation by RN Magazine editor Jack Courtez and Ian Sloan of Bankier Sloan, small businesses will receive an extra £617m in grants to help them during the Covid-19 pandemic. The editor, who joined RN (the leading trade publication for independent news and convenience retailers) in 2017, conducted a thorough investigation into claims […]
A funding deal to support the management buyout of a Scottish based provider of fire detection, security systems and TECS (Technology Enabled Care Systems) from a business in administration has helped save 51 jobs and life-saving services for vulnerable individuals across Scotland and the North of England. The Scottish and North of England management team […]
IPSE (the Association of Independent Professionals and the Self-Employed) has welcomed news that self-employed people are being told early if they are eligible for government support. It has urged the government to get payments to them too. IPSE has also warned, however, that the government must not lose sight of the many self-employed groups who […]
S&P Global Ratings’ credit loss estimates for UK banks reflect the radically more negative environment as a result of the Covid-19 pandemic. Measures to limit the spread of the virus have resulted in large parts of economic activity grinding to a halt, and returning to a more normal environment will take time. As noted in […]
A Liverpool-based chemical technology company that is helping in the fight against dementia, cancer and respiratory illnesses has secured £2.25m in a funding round led by the VC firms Deepbridge Capital and Praetura Ventures. Liverpool ChiroChem (LCC), the developer and manufacturer of chemical components that are critical to the research and development of new drugs, […]
