Financial services broker, Fiducia Group has launched a new asset finance division offering bespoke funding solutions to support businesses with their cashflow issues. With so many firms impacted by the ongoing coronavirus crisis, Fiducia Asset Finance provides access to a range of finance options, along with fast turnaround times of as little as three days.…

UK small business’ previous positivity about their future performance is being overshadowed by stress, anxiety and sleepless nights over access to finance according to research from fintech specialist, Liberis. While an encouraging 61% of small businesses in the UK questioned before the Coronavirus outbreak were confident of success in 2021 and beyond, mental health and…

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…

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…

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 Financial Conduct Authority (FCA) has published new guidance for mortgage lenders and administrators and small business lenders. This supports the announcements made by the Chancellor earlier this week. The new mortgage guidance makes clear that firms should grant customers a payment holiday for an initial period of 3 months, where they may experience payment…

The Bank of England has cut interest rates again in an emergency move as it tries to support the UK economy in the face of the coronavirus pandemic. It is the second cut in interest rates in just over a week, bringing them down to 0.1% from 0.25%. Interest rates are now at the lowest…

The government has pledged to do “whatever it takes” to support a greater number of British businesses and individuals as the coronavirus outbreak causes major economic disruption. In an announcement Chancellor Rishi Sunak said government would “stand behind businesses small and large”, pledging government-backed and guaranteed loans “to get through this” as he announced the…

Over two-thirds of UK SMEs (69%) have reported significant pressures on their cash levels according to latest insights from business lender MarketFinance. This is in large part down to businesses paying for supplies earlier than anticipated because of coronavirus-related stockpiling and fears of deeper disruptions to transport (road, air and rail) linkages. Additionally, on orders…

The Budget has confirmed plans to grant HMRC ‘preferential status’ in insolvencies from December 2020, says insolvency and restructuring says trade body R3. Business groups, including R3, have described this policy as a threat to business lending and business rescue. From December, debts owed to HMRC by insolvent businesses will be repaid in advance of…

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