News

2 April 2020

CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME EXPANDED TO BENEFIT MORE SMALLER BUSINESSES ACROSS THE UK

Personal guarantees cannot be taken for any facilities below £250k Insufficient security no longer a condition to access the scheme Personal guarantees may be required for facilities above £250k but capped at 20% of the outstanding balance after business asset recoveries Lenders to retrospectively apply changes Launched on 23 March, today the Coronavirus Business Interruption […]

23 March 2020

NEW CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME OPENS TO SMALLER BUSINESSES ACROSS THE UK

  40+ accredited lenders and partners Eligibility terms confirmed Details released on how smaller businesses can apply for the scheme Announced by the Chancellor at Budget 2020, the Coronavirus Business Interruption Loan Scheme (CBILS) opens for applications today and can provide facilities of up to £5m for smaller businesses across the UK who are experiencing […]

11 March 2020

Budget 2020: British Business Bank Response

Keith Morgan, Chief Executive, British Business Bank, said: “At Budget 2020, the Chancellor has announced new measures relating to the British Business Bank. Together they represent a significant package of funding that further underlines the critical role of the Bank in making finance markets work better for smaller businesses across the UK, allowing them to […]

4 March 2020

AskIf launches AskIf Funding, a lender accredited under the British Business Bank’s Enterprise Finance Guarantee Scheme

AskIf Funding (Series 2019-1) Limited (“AskIf Funding”) has been accredited as a lender for the term loan variant of the Enterprise Finance Guarantee (EFG) Scheme. Ask Inclusive Finance (“AskIf”) the inclusive small and microbusiness lending platform, announces the launch of AskIf Funding, a vehicle arranged and administered by AskIf that lends to small and micro […]

27 February 2020

Growth in small businesses using alternative finance continues, while gross bank lending flatlines, finds British Business Bank research

Asset finance up 32%, equity finance up 131%, marketplace business lending up 374% since 2014 Gross lending from the major banks to smaller businesses flat over last five years Signs of improvement in supply of business finance to level-up the regions, but more to do Published today, the British Business Bank’s Small Business Finance Markets […]

28 January 2020

£40 million unlocked for Midlands’ businesses as MEIF reveals new loan fund

• Midlands Engine Investment Fund launches new loan fund • The FSE Group appointed to manage £40 million of debt finance • Fund to address regional demand for alternative debt finance options The Midlands Engine Investment Fund (MEIF) has appointed a new fund manager and made £40 million available to invest in the region’s small […]

15 January 2020

British Business Bank responds to National Audit Office report

Commenting on the report, British Business Bank CEO, Keith Morgan, said: “We welcome the NAO’s findings that the British Business Bank has performed well against its objectives, enabling additional growth in UK SMEs as a result of our activities. “The NAO has provided a robust evidence base, culminating in a balanced report. As well as […]

15 January 2020

Sheffield firm SlothMove wins mentoring session with former ‘dragon’ Piers Linney

SlothMove lets users update their address with TV Licensing, loyalty programmes and all their utility companies in one go by filling in a simple online form. Based in Sheffield, the company has been up and running for eight months, helping house-moving Britons save time and money. The founder entered the Small Business Advice Week competition […]