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Latest news from Access to Finance Lancashire

Recovery Loan Scheme opens to support businesses as they recover from the pandemic

The Recovery Loan Scheme, a new scheme to support access to finance for UK businesses as they recover and grow following the pandemic, opens to applications from today. The scheme, announced at the Budget on 3 March 2021, is scheduled to run until 31 December 2021, subject to review. The new scheme will support borrowing of up to £10m for individual businesses and up to £30m ac ...

Your business guide to Budget 2021 - What were the key measures announced?

On 3 March the Chancellor set out the 2021 Budget outlining a series of measures to support businesses impacted by the COVID-19 pandemic. We've summarised the key points you need to know.   Business funding and support measures Restart Grant scheme With the previous grant schemes ending on 31 March, the government will launch Restart Grants to help businesses reopen following t ...

Access to finance hits record levels as small businesses continue to seek financial support

Research from British Business Bank shows a record number (45 percent) of smaller businesses accessed external financial support in 2020, with demand expected to continue in 2021. The Small Business Finance Markets 2020/21 annual report, released on 10 March, highlighted the ongoing challenge for businesses impacted by the COVID-19 pandemic and the resulting restrictions. The ...

Access to Finance Lancashire Blog: Equity funding to fuel growth

The Problem Due to the COVID-19 pandemic many businesses have sought financial support to survive and, in some cases, take the opportunity to pivot and rebuild their business in order to be viable during these difficult trading conditions. However, most of the funding solutions delivered by HM Treasury have involved businesses taking on new or additional debt. The Coronavirus ...