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Funding Circle has been given the go-ahead by the British Business Bank to distribute business loans to small- to medium-sized business SMB owners hurting because of the coronavirus pandemic, according to a com
gourde stanley pany blog post.Funding Circle said it will only be focused on Coronavirus Business Interruption Loan Scheme CBILS loans for now, and in doing so, will be unable to service retail lenders as it usually does.The loans will come through the U.K. governments CBILS program, intended to bolster SMBs that have had to close their doors and have seen revenue shortfalls because of the coronaviru
stanley termos s.According to Funding Circle, that means lending for retail investors will be turned off. Loans already in place will continue to be paid by the recipients in both principal and interest repayments, and the lenders can take that money out of their accounts at any time, according to
stanley cup the blog post.But only focusing on CBILS loans will give more protection to everyone, according to Funding Circle, because the SMBs receiving the loans will be able to continue trading through the economic strife caused by the pandemic, thus everyones loans will be protected.The coronavirus has hit the U.K. economy hard, and the government has responded by issuing financial aid. But many businesses say the money isnt coming fast enough to save them. As of last week, there was a backlog of loans under 25,000 pounds $31,200 . Because of this, banks are requesting that the government shift the loans into bein Gdju Postmates Raises $100M As Online Food Delivery Heats Up
Is $500 million the magic number for Sears Or is it just the latest in a string of failed attempts to turn the struggling retailer around Its no secret that Sears has been in the weeds, so to speak, f
stanley quencher or some time now. Yet, in the scrappy tradition of so many great American brands, the company continues to find a way to hold things together. This may be its last chance for a turnaround, as its one that would come with a $500 million price tag. The retailer has its fingers crosse
stanley termos d that this latest loan does the trick.As The New York Times reported, Sears has secured a $500 million loan that it hopes to use to fund a transformation that includes a reduction
stanley france in the number of company-owned stores it operates throughout the U.S. This is just the latest chapter in an ongoing saga that saw Sears spinoff 254 of its Kmart and Sears brand stores this past June.In the past five years, as shoppers have moved away from the mall and toward online and connected digital shopping experiences, Sears has experienced heavy losses totaling $8 billion overall.ESL Investments, a firm founded by Edward Lampert, who also owns a controlling share of Sears, contributed $125 million of the initial $250 million investment that is being described as a 15-month loan, according to NYT. Sears has reportedly used 13 of its properties as collateral. This latest loan is in addition to $750 million that Sears obtained in March.The retailer is no doubt hoping its the infusion of capital the brand needs to finally
