Research from Aldermore Bank reveals that finance brokers will have a vital role to play in helping SMEs recover from the impact of Covid-19. SMEs are expected to borrow billions in order to support their businesses through the crisis, with many business owners turning to finance brokers to help them
The past few months have been tough for many SMEs, but thankfully there is help available. Many of our customers are benefiting from the government’s Coronavirus Business Interruption Loan Scheme (CBILS) which provides 80% government guaranteed loans up to £750,000, with 12 months interest free. The CBILS commercial loans and some asset finance packages also benefit from
The Chancellor’s Summer Economic Update to Parliament last week introduced a number of measures to help the economy recover, including a particular focus on the hospitality sector. VAT cuts VAT will be cut from 20% to 5% on food from restaurants, cafes and pubs, accommodation in hotels, B&Bs and campsites,
Managing Director, Paul Caunter, explains how businesses can access commercial loans to help survive the current crisis: “SMEs are crucial to the UK economy, but many are now facing unprecedented challenges, with some diversifying, some working at reduced capacity, some closed for the foreseeable future, and others taking the first
