Tagged: hm treasury

August 9, 2020 @ 12:49 pm By Omar Faridi  |  

Emergency COVID-19 funding or financial relief for companies in the UK will reportedly go back to the Treasury at the end of this month if it’s not claimed, the BBC reports. About four months after £12 billion in Coronavirus related funding was approved to help… Read More

August 5, 2020 @ 10:33 am By JD Alois  |  

Today the British Business Bank has announced that it has approved Allied Irish Bank, Investec Bank plc, and Mercedes-Benz Financial Services UK Limited have been accredited under the Coronavirus Large Business Interruption Loan Scheme (CLBILS). These three new CLBILS lenders will be able to provide… Read More

July 20, 2020 @ 10:46 am By JD Alois  |  

HM Treasury has issued two public consultations today. One is a review of the current requirement for an authorized firm to approve the financial promotion of an unauthorized firm that may not operate as a strong enough safeguard to ensure such financial promotions are compliant… Read More

July 14, 2020 @ 11:22 am By JD Alois  |  

This week’s update on COVID-19 support schemes indicates that over 1.1. million UK businesses have been approved to receive £46 billion. The numbers breakdown as follows: Approximately 1.05 million smaller firms have received a total of £31.7 billion through the Bounce Back Loan Scheme, an… Read More

July 8, 2020 @ 9:42 am By JD Alois  |  

In a speech today entitled “Plan for Jobs” by the Chancellor of the Exchequer Rishi Sunak, he announced the elimination of the Stamp Duty at a certain threshold in a move to improve the UK housing market. The Chancellor explained: “… to catalyse the housing… Read More

July 7, 2020 @ 10:03 am By JD Alois  |  

  HM Treasury has posted its weekly update on its COVID-19 business support schemes and as one would expect the numbers continue to push higher. HM Treasury reports that more than one million businesses have been approved to receive £45 billion in financing support. In… Read More

July 3, 2020 @ 8:12 am By Samantha Hurst  |  

Nextfin, a UK-based investment aggregation platform, announced on Thursday it has launched its “Free Our Startups” campaign to help entrepreneurs and startups that are impacted by the COVID-19 pandemic. Along with the “Free Our Starups” campaign, Nextfin also revealed it penned an open letter to… Read More

June 30, 2020 @ 7:53 am By JD Alois  |  

The Chancellor of the Exchequer has adjusted the Future Fund to enable businesses that contribute significantly to the UK economy but do not have their parent company based in the UK because they participated in a non-UK based accelerator program to qualify for the Fund…. Read More

June 23, 2020 @ 9:53 am By JD Alois  |  

HM Treasury’s weekly update on the COVID-19 business support schemes indicates that lenders, both traditional banks and Fintechs, have provided a growing amount of financing to both smaller and larger firms impacted by the Coronavirus. The main government programs include; the Coronavirus Business Interruption Loan… Read More

June 9, 2020 @ 8:35 am By JD Alois  |  

HM Treasury is out with its weekly update on COVID-19 lending schemes designed to support businesses impacted by the pandemic. According to the update, over 830,000 UK businesses have provided £34.9 billion through the three major government-backed lending programs. £3.6 billion has been granted to… Read More

June 2, 2020 @ 11:55 am By JD Alois  |  

HM Treasury has published an update on the various COVID-19 support schemes for UK businesses. Published today, UK lenders have now approved over £31.3 billion in loans for more than 745,000 businesses. The three programs include; The Bounce Back Loan Scheme (BBLS), the Coronavirus Business… Read More

May 28, 2020 @ 7:42 am By Omar Faridi  |  

Andrew Jenkins, the HM Treasury appointed Fintech Envoy for Northern Ireland, has argued that the financial technology industry could help create many new jobs in the next few years in Northern Ireland. While speaking to the Stormont Economy Committee on Fintech in N. Ireland, Jenkins… Read More

May 27, 2020 @ 8:03 am By JD Alois  |  

Each week, HM Treasury publishes updates on approved lending under three COVID-19 related support schemes. This week HM Treasury said £12.47 billion has been approved in the ongoing programs. The breakdown of the funding is as follows: Coronavirus Business Interruption Loan Scheme (CBILS) Data up… Read More

May 20, 2020 @ 11:55 am By JD Alois  |  

Long-anticipated, the Future Fund opens for applications today. The Future Fund will remain open until September and is delivered in partnership with the British Business Bank. The Future Fund was revealed in April by Chancellor of the Exchequer Rishi Sunak as part of a package… Read More

May 19, 2020 @ 9:59 am By JD Alois  |  

HM Treasury has provided an update on the progress of the various COVID-19 support programs that have been put in place in the last two months. According to the UK government:   8 million jobs have now been furloughed with £11.1 billion claimed so far… Read More

May 18, 2020 @ 2:11 pm By JD Alois  |  

The previously announced Future Fund will open for applications beginning May 20, 2020, following a period of deliberation where the UK government sought to sort out the details as to how, and for who, the COVID-19 support program would provide capital. The British Business Bank… Read More

May 6, 2020 @ 8:34 am By JD Alois  |  

The newest COVID-19 support package created by the UK government appears to be a big hit with UK businesses. According to a post by HM Treasury, over 69,000 loans valued at more than £2 billion have been approved in just 24 hours. Bounce Back Loans… Read More

May 3, 2020 @ 7:30 pm By JD Alois  |  

Bounce Back Loans: Bower Up to £50,000 For the first 12 months of the loan the interest is paid by the UK government, then 2.5% interest per year afterward Repayments are deferred for 12 months Following the Chancellor of the Exchequer’s announcement on 27 April,… Read More

April 28, 2020 @ 10:10 am By JD Alois  |  

Christian Faes is the founder and Chairman of one of the most successful Fintechs in the UK. While there may be better-known names in the Fintech world, LendInvest, a property finance platform, has emerged as a leader not only in the sector of finance it… Read More

April 27, 2020 @ 1:26 pm By JD Alois  |  

The UK government has announced a new loan program for smaller firms. The “Bounce Back Loans” are 100% backed by the government providing access to credit ranging from £2,000 to £50,000. The loans will be interest-free for the first 12 months, and businesses can apply… Read More