New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 60% in May 2020 compared with the same month in 2019.  In the five months to May 2020, new business fell by 30% compared with the same period in 2019. New…

More than 910,000 businesses have now been helped by the banking and finance industry through the government’s coronavirus loan schemes. Figures published by HM Treasury has revealed that lenders have provided £38.2 billion through the three major government-backed lending programmes. £3.3 billion has been approved to 83,000 businesses in the past week, with more applications expected…

New figures released by the Finance & Leasing Association (FLA) show that total asset finance new business (primarily leasing and hire purchase) fell by 47% in April 2020 compared with the same month in 2019.  In the four months to April 2020, new business fell by 23% compared with the same period in 2019. The vehicle…

A survey conducted by commercial data and analytics firm Dun & Bradstreet found that prior to the coronavirus outbreak only 22 percent of small and medium sized enterprise (SME) respondents viewed securing funding for future growth as a key business priority. With latest figures on COVID-19 related loan schemes suggesting that the pandemic has increased…

Business debt will slow the economic recovery from coronavirus unless steps are taken to make the burden more manageable for small and mid-sized companies according to the Institute of Directors (IoD) In a poll of 720 company directors, half (51%) said that debt their organisation had taken on during the crisis would have a negative…

Latest figures released by the Treasury have revealed that lenders have approved over £31.3 billion to over 745,000 businesses through government-backed schemes. In the past week alone, more than £3.8 billion in lending has been provided to 94,000 firms through these schemes. More applications have been received and are expected to be approved in the…

Latest figures published by HM Treasury have revealed how the banking and finance sector is helping businesses of all sizes get through these tough times. Lenders have approved £27.5 billion to more than 650,000 businesses so far through the three major government-backed lending schemes. The industry is providing an unprecedented level of support to businesses…

The big uptake of Government-backed covid-19 loan schemes raises important questions about small businesses’ concerns over their treatment as customers of the banks, according to a new independent report. The report says that issues arise from the statistically significant participation of Small and Medium Sized Businesses (SMEs) in Government-backed loan schemes. A tightening economy will…

The Government has announced that it will extend the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CBILS) from £50 million to £200 million. The maximum loan size increase will help ensure those large firms which do not qualify for the Bank of England’s Covid Corporate Financing Facility (CCFF) have enough…

Latest figures published by HM Treasury today show that the banking and finance industry has approved over £22 billion in loans to more than half a million (505,040) businesses so far through the three major government-backed lending schemes. In the past week alone lenders have provided over £7 billion to businesses through the Bounce Back…

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