CAPITALBOX IN THE MEDIA
Thousands of SMEs unable to repay covid loans
This article previously appeared in SME News
Around 18 per cent of SMEs plan to make redundancies, 16 per cent cannot afford to pay existing staff because of the impact of loan repayments and nearly 40 per cent of affected small businesses reported that they can’t invest in new technology or products due to cashflow concerns.
No Collateral, No Problem: Here is What You Need to Know to Secure a Business Loan
This article previously appeared in Finance Digest
To secure a loan, there are a few requirements to tick off the checklist. For those businesses that are just starting off, going to a bank might not be a viable option. Even if you meet the minimum requirements for getting a loan, you might be required to provide collateral for the bank business loan.
No Collateral, No Problem: Here is What You Need to Know to Secure a Business Loan
This article previously appeared in SME Today
In the current climate, many businesses, especially small businesses, have found themselves in need of short-term loans to cover expenses such as higher-tax bills, maintenance, buying crucial equipment. At the same time, businesses that are flourishing in the short-term may now be focused on medium to long term investment such as remodeling, expanding, investing in inventorying, or hiring new employees. – Scott Donnelly, Director of Board at CapitalBox explains what you need to know to secure a business loan.
Thousands of SMEs unable to repay Covid loans
This article previously appeared in P2P Finance News
Thousands of small businesses that borrowed state-backed coronavirus loans are unable to make repayments because of limited cashflow, a survey has found.
A YouGov poll commissioned by Lawbite, and first reported by CityAM, showed 59 per cent of UK small- and medium-sized enterprises (SMEs), equating to around 3.5m businesses, used loans from the government support schemes or the furlough scheme during the pandemic.
Loans hit 5-year high as cash-poor SMEs rush to bridge the furlough finance gap
This article previously appeared in SME Today
ew data from CapitalBox found loans hit a five-year high, despite the availability of Government funds, as SMEs were forced to borrow more to keep their business afloat. Loans taken out by UK small businesses to cover workforce costs spiked from 1% in March 2020 to 14% in April 2020, as the furlough scheme failed to cover the complete workforce costs for many SMEs in those first crucial months of the pandemic.
Loans hit 5-year high as cash-poor SMEs rush to bridge the furlough finance gap, according to CapitalBox data
This article previously appeared in Economy Standard
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.