The overwhelming majority of media report indicate the existence of many problems (as yet not fully understood) regarding distribution and even fraud in the well-intentioned bounceback initiative from government. Here, apparently, is some good news from a separate, but arguably related sector. Business Desk reports: British Business Investments (BBI), a commercial subsidiary of the British […]
The ever-changing foment concerning Covid-19 continues. AltFi reports early developments regarding the CBILS extension, which has had a positive-to-neutral effect on the UK equity markets, at least. Back when the government first announced its financial aid package to help SMEs in March, it was first met with a sense of exasperation as it appeared fintechs and alternative lenders had been ignored. Fintechs were initially […]
Small- and medium-sized enterprise (SME) borrowers have been urged to apply for government-backed emergency loan schemes through the biggest player in the UK’s direct-lending market, Funding Circle, before the schemes end. Our friends at P2P Finance News report: The peer-to-peer lending platform, which has received accreditation for both the coronavirus business interruption loan scheme (CBILS) […]
The UK government has been criticised for a number of economic and general policy somersaults during the Covid-19 crisis. Our friends at P2P Finance News reports on what looks like the latest unfortunate event. Banks are pressuring borrowers to payback coronavirus business interruption loans (CBILS) early, it has been claimed. Richard Churchill a business advisory […]
We continue our regular News updates on the UK government’s stimulus schemes, launched to combat Covid-19. Legal site JD Supra takes a look at the success, or otherwise, of the initiatives. We run an excerpt, with the full story available here. Each Scheme targets businesses of different sizes and, as such, provides differing levels of […]
Our friends at the Fintech Times report on the evolving reaction to some very hastily, albeit well-intentioned, attempts to throw money at Britain’s stricken business sector, with small and medium-sized enterprises (SMEs) in most need. Regular readers of this News section will know that our concern is that money, unlike mud, does not stick if […]
The dominant topic in the alternative finance sector is the government initiative to get funding to small- and medium-sized enterprises (SMEs). On the hand, as evidenced here in our News section (see various earlier stories), is the concern that funds are not getting through to the SMEs. On the other, the mainstream is now voicing […]
The government-backed emergency finance juggernaut rolls on. The intentions are good, but is the money reaching its target? Time will tell. Our friends at AltFi report the latest: The UK’s financial institutions have lent out over £34.9bn to SMEs under the government-backed coronavirus loan schemes. The rate of lending has slowed for the second week […]
The Coronavirus Business Interruption Loan Scheme (CBILS) has had a fair to middling start, at best. P2P Finance News reports a tale of a digital bank and a lending platform hitching up together to attempt to drive it forward. Our friends at P2P Finance News carry the tale : Funding Circle has announced that digital […]
The British Business Bank announces that it has approved four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS), which provides financial support to smaller businesses (SMEs) across the UK that are losing revenue and seeing their cashflow disrupted, as a result of the Covid-19 outbreak. Good news. However… the information coming […]