Business Renewals

Bounce Back Loan Scheme

COVID 1

As of the 4th May 2020 Micro-businesses and SME’s will be able to apply for the Bounce Back Loan Scheme which can offer up to £50,000 within 24 hours.  The criteria set is almost self-certifying with little checks being carried out by the banks and all loans are interest free for the first 12 months with the balance likely to be charged at a rate of 3% which is around half the rate set in the Coronavirus Business Interruption Loan.

In the main, the Bounce Back Loan Scheme will work as follows:

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Business Renewals

Wholesale Energy April 2020 Mid Review

Eon renewable energy

The first few weeks in April saw several records broken, firstly it was confirmed that Brent prices recorded their worst quarter downswing in living memory, however following confirmation of OPEC+ talks Brent prices saw the biggest intraday rally in history, albeit short lived.  During the OPEC+ meeting it was agreed that cuts of 10m barrels per day would be implemented which is around 10% of global demand, this agreed cut way below what most analysts believe is required to counterbalance the social/economic reductions seen in Oil requirements from COVID-19 which are currently estimated to be around 30%.  Brent started the month at $26 to currently sit on $21, however WTI which is the US index saw major falls from $23 to negative $4 as of 20th April 2020.

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