NEWS
STATE OF THE FUNDING MARKET
The funding market has seen some considerable changes during this period and here we set out what we have seen in terms of the government support for business and then how the ‘normal’ funding market has adapted: CBILS Firstly, we had the launch of the government backed CBILS facilities through…
Read MoreNEW CBILS SPECIALIST PRODUCT
We are one of a select number of intermediaries chosen to have access to this NEW SPECIALIST CBILS PRODUCT which utilises the commercial property trading asset as security for a trading business and thus enables the cost of borrowing to be spread over 25 years. Key terms are: – Loans…
Read MoreNEW LENDERS ADDED TO CBILS
The British Business Bank have just announced 4 new lenders have been signed off for the Coronavirus Business Interruption Loan Scheme (CBILS): Co-op Bank Cynergy Bank Oaknorth Bank Starling Bank
Read MorePOSITIVE CHANGES TO THE CBILS SCHEME
The Chancellor clearly must have read my LinkedIn post yesterday as the scheme will now be OPEN TO ALL VIABLE BUSINESSES AFFECTED BY COVID19 – a key and necessary improvement. Other changes include: – No lender on the scheme can take a personal guarantee for loans up to £250k –…
Read MoreWATCH THIS SPACE!
The Chancellor is expected to announce changes (improvements!) to the Coronavirus Business Interruption Loan Scheme (CBILS) either today or tomorrow as the scheme is clearly failing to achieve its objectives. Many businesses don’t want to take out loans and may not have borrowed before. The requirement for banks to offer…
Read MoreHELP TO SUPPORT IMPACT OF CORONAVIRUS
No one can underestimate the impact of Coronavirus and how it has impacted every business and every individual. One thing is for sure and that is it will get much worse before it gets better, and there will be the need for a huge unprecedented package to protect businesses and…
Read MoreSNOWBALL TEAM EXPANSION
At Snowball we continue to expand, and the next stage of this strategy is to bring in another senior experienced deal person to support our clients and prospects. We are therefore delighted to announce the appointment of Diane Davies to our team as our new Senior Commercial Manager. Diane brings…
Read MoreCHALLENGER BANK LENDING
A report out last month showed that the ‘so called’ Challenger Banks lent a record £115bn in the 12 months to September 2019. Whilst this was up just 3% on the previous years growth rate of 19%, there were of course wider economic and Brexit related matters during that period,…
Read MoreTO SWITCH OR NOT TO RBS SWITCH
If you or any of your clients have a turnover less than £25m and bank with a part of the RBS Group that was originally going to move to a new Williams & Glyns Bank, then you’ve probably already heard of the Business Banking Switch Scheme. In 2008/09 The Royal…
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