CAPITALBOX IN THE MEDIA
Loans hit 5-year high as SMEs try to bridge the furlough finance gap
This article previously appeared in Fresh Business Thinking
A five-year study reveals a marked increase in small and medium businesses taking out loans to cover the gaps the furlough scheme couldn’t.
People don’t like to be told no when it comes to finance
This article previously appeared in Finance Digest
Since the 2008 recession, banks have been wary about lending to small businesses as they have always been viewed as riskier. Now with the uncertainty around the post-covid economic recovery, it can still seem virtually impossible to get a loan to grow a small business.
SMEs Call For More Government Support Despite Loan Schemes And Furlough
This article previously appeared in Financial News
Loans taken out by small businesses in the UK to cover staff costs rose from 1% in March 2020 to 14% in April last year.
In March 2021, 35 percent of SMEs used loans to purchase equipment, 19 percent for working capital and 17 percent for renovation and expansion.
SMEs call for more government support despite loan schemes and furlough
This article previously appeared in SME News
43 per cent of small- and medium-sized enterprises (SMEs) received a state-backed loan during the Covid-19 crisis but a similar proportion believe the government could have done more to support businesses, research has shown.
Business loans hit five year high
This article previously appeared in Credit Connect
SMEs relied heavily on financial support with two in three (65%) UK SMEs having benefited from the furlough scheme, one in three (36%) received tax relief and two in five (43%) leant on government loans. Despite this, 42% of SMEs felt the government could have been doing more to provide support as not all businesses received help from the furlough scheme and tax relief.
Loans hit 5-year high as SMEs rush to bridge furlough finance gap
This article previously appeared in Business Money
Loans taken out by UK small businesses to cover workforce costs spiked from 1% in March 2020 to 14% in April 2020, according to CapitalBox data. This comes after the initial announcement of the government’s Coronavirus Job Retention Scheme, also known as furlough scheme, which failed to cover the complete workforce costs for many SMEs in those first crucial months of the pandemic.