Category: Funding

A quick 3 point funding update

Funding, News from Balance, Advice

Are you currently looking at your funding options? We’ve got you covered! – We now have access to funding for HMRC payments at extremely competitive pricing. This can fund VAT, PAYE & Corporation Tax bills and will not appear as HMRC arrears when funders assess lending requirements.  – We...

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Small firms struggling to get new finance

Funding

According to research from the Federation of Small Businesses, only six in 10 companies who apply for credit are now successful, the lowest level since the end of 2015. The FSB added that only 25% of businesses believe credit is “affordable”, down from 30% last year.   However, we’ve...

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Business lending hits highest level in a year

Funding

Net lending to businesses reached its highest level in a year last month, at £3.24bn. There was a 9% rise in lending to manufacturing companies in the year to March, according to the figures from UK Finance. “This reflects improved optimism among manufacturing firms, who are taking advantage of...

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Small firms embracing alternative finance

Finance, Funding

The rapid growth of alternative finance such as crowdfunding and royalty financing has seen more small businesses exploring options other than bank loans. Figures from UK Finance show the value of new loans to small businesses came to £5.6bn in the final quarter of last year – down 11%...

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SME builders turn to bridging

Funding

Benson Hersch, CEO of the Association of Short Term Lenders, says that many SME housebuilders are finding it difficult to get finance from high street institutions and instead turning to the bridging industry for help. He adds that members of the Association of Short Term Lenders are increasingly providing...

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SMEs shun big banks for funding

Finance, Funding

Businesses in the UK are shunning traditional overdraft and loan facilities from the high street banks according to in-depth nationwide study. The SME Finance Monitor, which is funded by the high street banks themselves, shows that 50% of small and medium-sized companies describe themselves as “permanent non-borrowers” which is...

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Half of UK SMEs unable to access growth funding

Funding

New research from small business finance provider, Liberis, shows that over half of UK businesses are unable to access the funding they need to grow, with the main factor being a lack of knowledge or understanding of funding options. Rob Straathof, the firm’s CEO, said: “These findings have opened...

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New £30m lending fund for SMEs launched

Funding

Yorkshire-based corporate financiers Melanie Hird and Andrew Walls have secured £30m to launch Fresh Thinking Capital, a new SME lender. The firm has offices in Leeds and London and will offer secured lending loans of between £100,000 and £2m. There are plans to build a network of five offices...

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TSB to invest £100m in SMEs

Funding

TSB owner Sabadell is planning to boost its business banking operation in Britain with a £100m investment in small companies. An initial £30m is being provided to support a small business banking market “in desperate need of competition”, TSB said yesterday. The bank, which was bought by Sabadell in...

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