Small businesses may struggle to access funding

Posted on 26 May 2015
Share Blog Post
Small businesses may struggle to access fresh funding The Guardian reports on concerns that, if the number of bounce back loans scheme accredited lenders shrinks, there will be a sharp rise in small businesses unable to access funds this winter. The worries stem from Tide being unable to offer any more loans because it is reliant on private investment to fund lending and the company ran out of funds in the summer. Tide is now reviewing formal documents linked to the scheme, and trying to figure out how it might finance the top-ups promised by the UK Government last week. Tide has so far failed to gain access to Bank of England loans to fund further bounce back loans. Mike Cherry, chair of the Federation of Small Businesses, said it was important that struggling businesses are given access to much-needed funds. “Given that many firms applied for bounce back facilities at a time when the extent of disruption was so unclear, it’s vital that the roll-out of the top-up initiative is a su ccess.”

View more blog posts

Interest rate strategy
Posted on 27 Feb 2024
Interest rate strategy
read more
Tax investigations reduced
Posted on 26 Feb 2024
Tax investigations reduced
read more
High taxes hurt
Posted on 23 Feb 2024
High taxes hurt
read more
High banking charges hurt
Posted on 22 Feb 2024
High banking charges hurt
read more
Back To Top
01604 660661