News

Brokers – The unsung heroes of SME finance

Uncategorized

Research from Aldermore Bank shows SMEs are expected to borrow £48.3bn to help their businesses recover following COVID-19. The study also found that businesses accessing finance through a broker are more likely to use a diverse range of funding options. Tim Boag, group managing director, business finance, Aldermore, said:...

Continue Reading

UK businesses grow at fastest rate in five years

Uncategorized

The UK economy’s private sector rebounded at its fastest rate in five years in July, just as the government began to ease coronavirus restrictions. The IHS Markit/Cips composite purchasing managers’ index (PMI) jumped to 57 in July from 47.7 in June, above the 50-mark separating expansion from contraction. Services...

Continue Reading

Government-backed coronavirus lending tops £50bn

Uncategorized

Banks have now lent £50.7bn to companies through the various government-backed coronavirus loan schemes, with the bounce back loans scheme (BBLS) lending the most, at £34.34bn. Companies have borrowed £13.08bn from banks under the coronavirus business interruption loan scheme (CBILS), and £3.27bn though the coronavirus large business interruption loan...

Continue Reading

£1.6bn of business support cash unclaimed

Uncategorized

Business Secretary Alok Sharma has written to councils in England to say the COVID-19 emergency grants system must be closed by the end of August, and unspent funds returned to the Government. Almost £1.6bn of grants to help companies to survive the pandemic have gone unclaimed. John Webber, head...

Continue Reading

Retail sales show signs of recovery

Uncategorized

The monthly distributive trades survey from the CBI shows that the balance of retail sales balance had rebounded from -37 in June to +4 in July – the highest reading since April 2019. However, real-time data suggest sales have already dropped back considerably, says Samuel Tombs at Pantheon Macroeconomics,...

Continue Reading
Call Now ButtonCall us