NEWS

The latest from Balance for Business

Octane Capital completes £1m bridge in four days

Productless lender Octane Capital has completed a £1m bridging loan in just four working days after another lender pulled out at the eleventh hour. The borrower — a client of debt advisory business Mantra Capital — had taken out a bridging loan to purchase two derelict neighbouring properties in Hertfordshire with the intention of turning […]

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Major banks add crowdfunder to alternative lender panel

Seedrs has been invited to join NatWest and Royal Bank of Scotland’s (RBS) select panel of alternative funding solutions. The crowdfunder has become an equity funding partner in the banks’ Capital Connections programme. The panel allows NatWest and RBS relationship managers to offer UK business and commercial customers an alternative solution if their standard finance […]

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Branchless SME bank granted licence

A new branchless digital bank for SMEs has secured its banking licence from the Bank of England ahead of a planned launch in early 2018. CivilisedBank will serve businesses through services such as loans, overdrafts and foreign exchange, using a network of local representatives with access to the latest online technology. Additional offerings will include […]

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Business borrowing from banks drops £600m

Bank borrowing by non-financial companies fell by almost £600m in April, according to new figures from the British Bankers’ Association (BBA). The decline was largely driven by a £699m drop in net borrowing by public admin and defence companies, as well as a £463m fall in lending to wholesale trade businesses. Borrowing by construction businesses […]

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Tandem Bank changes name

Tandem Bank has changed its name to Tandem Money, just months after temporarily pausing its savings account launch following the collapse of a major investment. In March, Tandem revealed that a £29m investment from House of Fraser would not take place due to increasing limitations placed on Chinese firms investing money abroad. House of Fraser […]

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Six smart ways small businesses can save money

Small business owners don’t usually have vast reserves of cash they can dip into should things get tough. Here, content head at digital marketing agency BlueGlass, Irma Hunkeler, gives six smart ways small businesses can save money. Life for a small business is rarely easy, and with maintaining healthy cash flow a major issue, opportunities for saving […]

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Student property developer completes £12m refinance with bank

Urban Creation has completed a refinance deal worth almost £12m for some of its portfolio with Hodge Bank. The refinance will transfer some of the developer’s property assets on to long-term investment finance and releases additional funds to allow for further acquisitions of development opportunities. Urban Creation develops and manages property developments focusing on student […]

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New commercial property lender launches in Ireland

Timbercreek Asset Management has created an Irish commercial property lending business. The Canadian property investment firm has made €200m (approximately £172m) available to support property investment projects across Ireland. Timbercreek’s Irish team will be led by Paul Roddy (pictured above) and will target loan sizes from €1m to €50m (approximately £860,000 to £43m) providing loans […]

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Bridging lender launches new division for big ticket developments

Newly launched lender Elysium Bridging has announced its entry into the London private client market. The new Elysium Private Clients division aims to assist high-net-worth property developers secure short-term funding for big-ticket sites within the M25. The news comes just months after Elysium’s launch in March.   New bridging lender snaps up ex-BFS manager   New bridging […]

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Distributor reports 72% surge in development finance enquiries

Specialist distributor First 4 Bridging has announced it has received a 72% rise in development finance enquiries during the first quarter of 2017. The company attributed the increase in part to tighter underwriting within the buy-to-let sector. As a result, First 4 Bridging has launched a new development finance department in response to the surge, […]

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