Should the UK’s loan guarantee schemebe extended?

Soon after the UK went into lockdown in March, chancellor Rishi Sunak unveiled his £350bn emergency rescue package for British businesses.

This unprecedented intervention laid the foundation for a handful of government guaranteed lending schemes that have completely changed the fintech lending landscape over the past six months.

The three marquee schemes are the Coronavirus Business Interruption Loan Scheme (CBILS), which offers an 80% guarantee for loans of up to £5m; the Coronavirus Large Business Interruption Loan Scheme (CLBILS), for bigger businesses wanting to borrow up to £200m, again with an 80% guarantee; and the Bounce Back Loan Scheme (BBLS), which offers a 100% guarantee for loans of up to £50,000 for micro-businesses.

1pm plc (LON:OPM), established in 2006 is an independent provider of finance facilities to the SME sector. The 1pm plc group offer a full range of business finance solutions to the UK market from asset finance, hire purchase, commercial loans through to invoice finance and factoring.

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Time Finance signals next phase of growth with rebrand (Interview)

11th December 2020

Time Finance plc (LON:TIME) CEO Ian Smith joins DirectorsTalk Interviews to discuss the reasons behind the rebrand from 1pm plc to Time Finance plc. Ian explains why now is the right time, the meaning behind the new

New data shows extent of Midlands’ reliance on COVID support

9th December 2020

The ongoing importance of Government support for business during the pandemic has again been underlined in figures showing that more workers in the Midlands were placed in Coronavirus Job Retention Scheme (CJRS) than any other UK

Time Finance results continue to strengthen month on month

9th December 2020

Time Finance plc (LON:TIME), formerly 1pm plc, the AIM listed independent specialist finance provider, has announced the Company’s trading performance and expected financial results for the first half of the current financial year, which ended on 30

1pm changes name to Time Finance plc

7th December 2020

1pm plc (LON@OPM), the AIM listed independent specialist finance provider to UK SME businesses, has announced that the Company’s name is changing to Time Finance plc with immediate effect. All subsidiary businesses within the 1pm Group will hereafter

CBILS applications to surge by 84% for winter survival

2nd December 2020

The Chancellor of the Exchequer, Rishi Sunak, detailed the onset of the economic emergency facing the UK at last week’s spending review. This comes at a time when demand for the government-backed CBILS loans are planned

Government support schemes have delivered almost £65.5bn to businesses

25th November 2020

Almost £65.5bn has been delivered to businesses through the government’s Covid-19 support schemes. Figures from the British Business Bank have revealed that over 1.48 million government-guaranteed loans have been deployed to companies impacted by the Covid-19

1PM recognised in London Stock Exchange Group’s ‘1000 companies to inspire Britain’ 2020 report

16th November 2020

1pm plc has been identified as one of London Stock Exchange Group’s ‘1000 Companies to Inspire Britain’ 2020. The report recognises the UK’s fastest-growing and most dynamic small and medium sized businesses (SMEs), highlighting the regional

CBILS is extended

11th November 2020

The Chancellor has recently announced the extension of CBILS to end January 2021. The scheme that offers business loans, invoice finance, asset finance and business overdrafts is open to businesses that need finance due to Covid-19 affecting their

UK Treasury extends emergency business loan scheme

4th November 2020

The Treasury is extending its emergency business loan scheme and will allow firms to “top up” their borrowing as part of new rules meant to keep businesses afloat during England’s second lockdown. UK firms will now

Over £670 million in loans given to struggling Coventry and Warwickshire firms during pandemic

30th October 2020

A leading business support organisation has revealed loans worth over £670 million have been given to firms in Coventry and Warwickshire during Covid-19. Figures from the Coventry and Warwickshire Local Enterprise Partnership (CWLEP) Growth Hub highlight

Limchester Properties set to expand with help from Intelligent Loans

29th October 2020

Limchester Properties are set to invest in a new Buy to Let property in the Bristol area thanks to the re-mortgaging of an existing property portfolio. Clive Mcnamara, director at Limchester Properties, reached out to loan

More than £61bn borrowed via government-backed loan schemes

28th October 2020

At least 1.4 million UK businesses have borrowed more than £61bn from government-backed lending schemes since March, new HM Treasury figures have shown. According to the latest data, as of 18 October 2020, £17.16bn has been

1pm receives accreditation to expand its lending under the UK Government’s CBILS

28th October 2020

1pm plc (LON:OPM), the AIM listed independent specialist finance provider, has announced that it has received accreditation from British Business Bank to expand its lending under the UK Government’s Coronavirus Business Interruption Loan Scheme to support

1pm “continuing positive trading momentum”

22nd October 2020

1pm plc (LON:OPM), the AIM listed independent specialist finance provider, has provided the following statement ahead of its Annual General Meeting which is being held at 10.00am today. It also gives notice of the date of

Construction revealed as top sector for emergency loans

21st October 2020

Construction companies have taken on more emergency loans than any other industry, the British Business Bank has revealed. Building firms have taken just over 218,000 loans across the Coronavirus Business Interruption Loan (CBILS) and Bounce Back Loan

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