Am I Eligible for a Business Interruption Loan?
Millions of businesses have been affected in some way by the coronavirus and the UK government was quick to respond with a Business Interruption Loan running from March to September 2020, offering loans of up to £5 million, which the bank will cover interest-free for the first 12 months. Those companies particularly in hard-hit industries such as travel, aviation, events and hospitality are strong candidates, but many other businesses on
Read MoreThe Best Loan Management Software Companies in the UK
Since our recent blog post on how to start a loans company, we have received a lot of enquiries by people looking to start a new business in the payday and guarantor sector. Very often, we are also asked what is the best loan management software for lenders and with several companies in the UK offering their services, we wanted to give you an overview of the different companies that
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Paragon Provides £17.5m Support for UK Guarantor Lender
One of the largest guarantor lenders in the country, UK Credit, has recently secured £17.5 million in funding from UK-based bank Paragon. Paragon offers structured, secured funding to help lending businesses throughout the UK to grow. Paragon’s lending services excludes other banks, and will only consider funding for “non-bank” lending businesses such as UK Credit. Paragon has already helped to provide more than £130 million in funding for numerous
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Amigo shares plummet after regulatory crackdown
The guarantor lender Amigo has seen its shares lose half their value in the past week, and the firm has warned that it will be looking to revamp its business model in light of regulatory crackdowns by the Financial Conduct Authority. Amigo shares drop dramatically The stock price of the FTSE 250's business has dropped by a whopping 40 percent in early trading before falling further by the end of
Read More5 Rules to Follow When Applying for a Small Business Loan
Applying for a small business loan might be more comfortable than pursuing other loans. However, you need to be cautious about it. Your burgeoning business might be dragged under, at least, if you fail to pay it back. For this reason, there are five crucial rules of thumb that you need to abide by to keep your small business debt from subduing your company’s potential. Borrow Only What is Necessary
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