Emergency funding schemes launched in reaction to the coronavirus pandemic led to gross bank lending to small and medium-sized companies rising by 82% last year to £104 billion, fuelling concerns amongst UK firms about business debt.
British Business Bank
Independent business lender White Oak has announced that it has successfully provided over £270 million through the Coronavirus Business Interruption Loan Scheme (CBILS) to support UK SMEs through the pandemic. A total of £14m of the CBILS funding has been provided to Scottish SMEs.
It is estimated that UK banks have prevented more than £1 billion in fraud by rejecting almost 27,000 applications for COVID-19 Bounce Back loans. The loans been an integral part of the UK Government’s support for small businesses during the pandemic, but concerns are mounting over
Edinburgh-based fintech lending platform LendingCrowd has been approved for accreditation by the British Business Bank as a new lender under the Coronavirus Business Interruption Loan Scheme (CBILS). This means LendingCrowd will be able to distribute UK government-backed loans to SMEs impacted by th
International finance firm Epidarex Capital has launched a £102 million venture fund in Edinburgh to build successful life science companies.
The banking and finance sector has lent over £5.5 billion to SMEs through the Coronavirus Business Interruption Loan Scheme (CBILS) so far, according to the latest data from UK Finance.
British Business Investments partners with Par Equity to deliver £75m of investment to entrepreneurs
British Business Investments, a commercial subsidiary of the British Business Bank, has announced a new £15 million commitment to Edinburgh-based Par Equity allowing the partnership to deliver over £75m of new funding for businesses. The funds from British Business Investments
High street banks have blamed the British Business Bank, the government-owned organisation responsible for implementing the coronavirus loans scheme, for delays preventing small businesses across the UK from accessing desperately needed funds. The criticism of the bank comes as Chancellor
Barclays has today announced the launch of a new cashback scheme for term loans to eligible SME borrowers in the UK. Supported by a £450 million ENABLE guarantee from the British Business Bank, this scheme is the largest of its kind to launch in the UK.
DSL Business Finance has said that there is no evidence of a decline in the number of new companies being set up in Scotland, despite the uncertainty caused by Brexit. Stuart Yuill, executive director, said the company's pipeline of business leads remained unshaken, despite the increased political u
New figures released today from the British Business Bank's Start Up Loans programme have revealed that the scheme has lent over £30 million to small businesses in Scotland since 2012. In total, the government-backed scheme has issued more than 4,000 loans, with an average loan size of £
The government-owned British Business Bank has appointed Ian Mitchelmore as its UK Network senior manager for Scotland. The UK Network will see team members in each of the English regions and devolved nations work on identifying and helping to reduce imbalances in access to finance for smaller UK bu