New loan facility launches to support UK SMEs

A new business loan facility has been launched by Go Business Loans, designed to help support small businesses seeking short-term lending.

Go Business Loans will provide loans of between £2,500 and £20,000 to limited companies and LLPs in Wales and across the UK.

The government recently announced the launch of its new Recovery Loan scheme, however its term loan starts at £25,000, and Go Business Loans suggested that this new loan facility could provide an alternative option for small businesses not wishing to borrow more than they need.

The loan provider suggested its new offering would be “welcome news” to small businesses who could be facing cashflow challenges as a result of the COVID-19 pandemic.

“We are aware that some small businesses may find a shortage of options for this amount of borrowing and we are delighted to bring a solution to market during a time that companies are increasingly more likely to encounter cash flow challenges,” commented Go Business Loans managing director, David Viera.

“We know that the government and the high street banks have done an incredible job in supporting businesses as best they can in extremely difficult conditions, but we have identified there to be a shortage of options between £2,500 and £20,000 and we are very proud that through this new facility we are able to help plug that gap.”

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