Recovery Loan Scheme vs. CBILS: What’s the difference?
On 3rd March 2021, Chancellor Rishi Sunak declared that the Coronavirus Business Interruption Loan Scheme (CBILS) would come to an end at the end of March, to be replaced with the Recovery Loan Scheme (RLS) from 6th April 2021, taking applications until 31st December...
The Budget: What it means for SMEs and what to do next
On Wednesday, 3rd March, Chancellor Rishi Sunak announced the Government's latest Budget, perhaps the most significant for businesses in recent times due to the events of the last 12 months. We're breaking down the key policies affecting British small and medium...
£14.4million financed in Loans and Asset Finance in 2020
Without doubt 2020 was the hardest year many of us experienced, personally and professionally our lives were put on hold and our businesses were closed down. Undoubtedly this put a hold to growth and development to many businesses. At Johnson Reed we have been working...
Supreme Court rules in favour of small businesses in FCA business interruption insurance case
The Supreme Court has rules in favour of SME business that have been shunned by insurance providers over business interruption insurance claims having been rejected last year. The Financial Conduct Authority (FCA) brought the case forward with the support of eight...
How to get Approved for Finance
Applying and then being rejected for equipment finance or loans for your business can be disappointing and frustrating, not to mention time consuming, even more so in the current climate. This is why we are encouraging our businesses to follow the correct process and...
Government announce grant up to £9,000 for businesses
Following the announcement of a third national lockdown at the start of January 2021, Chancellor Rishi Sunak has announced that businesses in the retail, hospitality and leisure sectors may be eligible for a one-off cash grant of up to £9,000. This follows the news...
Asset Finance has a big role to play in the future of UK SMEs
Small and medium enterprise (SME) businesses have faced their biggest ever challenge this year. With the online resources and depth of large business, there are ways in which asset finance can help them to continue to compete, both as asset vendors /suppliers and end...
Furlough: Your Questions Answered
The UK Government has provided the Coronavirus job Retention Scheme, with news of a second lockdown, this has been extended until April 2021. Here's an update for the scheme: The scheme has been extended until the end of April 2021, with employees receiving 80% of...
Government announce Winter Economy Plan
With the government loan schemes coming to an end at the end of September and the Coronavirus Job Retention scheme ending at the end of October, Chancellor Rishi Sunak has announced his 'Winter Economy Plan' for businesses and jobs. New measures have been announced...
Which sectors are most likely to be seeking finance?
With many businesses across different industries and sectors being adversely affected by Coronavirus, companies are still looking for support from the Coronavirus Business Interruption Loan Scheme (CBILS). With the British Business Bank declaring the deadline for the...
