When CBILS Bites Back CBILS finally ended on 31st March 2021, as of June 2020 £38bn had been advanced to 910k businesses. Between now and March 2022 businesses will need to start making repayments to these loans or seek agreement from their lender for special terms outside of the standard CBILS scheme. Many of these
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Enterprise Finance Guarantee Or EFG as it is more commonly known. The Enterprise Finance Guarantee was launched in 2009 as the UK sank into the depths of the credit crunch. The Enterprise Finance Guarantee (EFG) was a replacement for the Small Firms Loan Guarantee Scheme (SFLGS) which operated for several years previously. Great, But What
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The Business Finance Essentials Most business finance paperwork is fairly long, it has a number of clauses and more than it’s fair share of small print. Once you add into that the various conditions, covenants and the security you need to provide then the whole thing can be difficult to understand properly. So what should
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Cashflow Concern A recent survey undertaken by bespoke invoice finance company Platform Black showed the real concerns for UK SMEs as we head into 2014. The survey shows 3 major concerns for the small business sector; 89% said that their biggest headache will be working out how to grow in 2014 70% said that their
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Alternative SME Finance So, you are an SME director/owner and are looking for finance. History says you go to your bank, tell them your story and ask for money. Confident of getting your finance? Probably not. So where do you go next. In the UK there are over 4m SMEs making up 99% of the
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Simply having a business loan is not enough. You need to be able to understand what it contains, what it means and what risks it could present to your business. Too often businesses have loan facilities in place but are unaware of the conditions that sit hidden in the detail. Business Loan Example Recently I
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Payday Lenders Exodus From UK Market Much has been made of the growth of payday lenders, the reported high costs they charge. But, has this public backlash been the impetus for a sudden decline in the numbers of payday lenders? The Office of Fair Trading (OFT) gave 50 payday lenders a short timescale to prove
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We try and explain the basics of why a banker doesn’t always understand the entrepreneur and vise-versa. To obtain business finance you need to have an appreciation for what the business banker thinks, it is unlikely the bank will change so to succeed you need to be understanding, sorry… The first in our series of
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