Fraud attempts against lenders have been around for as long as there have been lenders. Disappearing with a loan, or pledging assets that aren’t quite what they seem, have been risks to banks since lines of credit were invented. Frauds against invoice finance lenders can be equally unsophisticated, yet lenders continue to take losses. With…

With coronavirus already affecting businesses, new research from Nucleus Commercial Finance reveals that prior to the virus having an impact, nearly half of SMEs (47%) predicted their finances would keep them running for a month if they were suddenly and unexpectedly unable to trade. This means that 2.67m small businesses may already be struggling with…

Business finance lender MarketFinance sought the views of business owners following the wide-ranging measures announced by the Treasury recently. Despite the sizeable fiscal stimulus, more than two thirds (67%) believe funds will not reach them in time and they will run out of cash before Easter (12th April). Only half (52%) of UK businesses are…

Water companies are taking all possible measures to help vulnerable customers and ensure households will not struggle to pay their bill during the national crisis according to Water UK. As yet there is no set policy for what billpayers will be offered but payment collections will be halted as part of the measures offered by…

Citizens Advice says it has seen record-breaking demand for advice since the escalation of the coronavirus pandemic with the highest daily number of visitors to its website being topped four times last week. The debt charity says that web data shows a clear picture of the changing narrative of how this crisis is affecting people…

The Association of Alternative Business Finance (AABF),  has encouraged that the Government extends the availability of the new 80% Covid19 Government Guaranteed Loan Fund to all the new lenders. The association says at present the scheme is for high street banks and a relatively small number of lenders already authorised under the existing Enterprise Finance…

The Government has confirmed a £500 million hardship fund will provide council tax relief for vulnerable households. Local Government Secretary Rt Hon Robert Jenrick MP has confirmed the government’s £500 million Hardship Fund will provide council tax relief to vulnerable people and households to help those affected most by coronavirus. The government has set out…

A new Coronavirus Business Interruption Loan Scheme (CBILS) has been opened to smaller businesses. The scheme can provide facilities of up to £5 million for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. Although the Budget announced that an initial £1.2 billion of government-backed lending…

The incomes of self-employed people are ‘falling like a stone’ amidst economic disruption caused by Covid-19, according to charity the Money Advice Trust, which runs the Business Debtline advice service.  The warning comes after Chancellor Rishi Sunak told MPs that constructing a scheme to protect the self-employed who are losing work because of the Coronavirus…