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Over 60 lenders approved for CBILS

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The British Business Bank has approved nine new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS). Assetz Capital, Atom bank, Ebury, Fleximize, Investec, Social Investment Business, Tower Leasing, Ultimate Finance and White Oak UK will be able to provide financial support to smaller businesses across the...

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Government considers trimming furlough

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The Chancellor has started to plan a phased withdrawal of the furloughing scheme, with one option being considered reducing the 80% wage subsidy to 60%. Another approach would be to allow some furloughed staff to work, but with a smaller taxpayer subsidy. Rishi Sunak said that without changes, the...

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Lenders provide over £4bn to SMEs through CBILS

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The banking and finance sector has provided over £4.1BN to SMEs so far through the Coronavirus Business Interruption Loan (CBIL) scheme, UK Finance reveals today, as part of a broad package of support to help businesses through these tough times. Click here for the full article  Click here for...

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Banks agrees mortgage payment holidays with homeowners

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Some 1.6m mortgage payment holidays have been granted to homeowners amid the ongoing coronavirus outbreak, after Chancellor Rishi Sunak announced last month that such arrangements would be made available. Stephen Jones, chief executive of UK Finance, commented: “The industry has acted quickly to support homeowners through this crisis and...

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Coronavirus Bounce Back Loan

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The chancellor has announced a new coronavirus crisis aid scheme, offering small and medium sized businesses up to £50,000 in loans that will be 100% guaranteed by the government.   The microloan scheme should be in place from next Monday (May 4th), with applications to be made to banks...

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People spend more in small shops

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A survey by PwC has found that one in six people are now spending more money in small local shops and over one in five said they would continue to do so after the restrictions are eased.   Click here for the full article  Click here for related news 

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