Manx Financial Group PLC Government-backed lending increase (6064L)
January 14 2021 - 2:00AM
UK Regulatory
TIDMMFX
RNS Number : 6064L
Manx Financial Group PLC
14 January 2021
FOR IMMEDIATE RELEASE 14 January 2021
Manx Financial Group PLC (the "Group")
Government-backed lending increase
On 21(st) August 2020, Manx Financial Group PLC (LSE: MFX), the
financial services group which includes Conister Bank Limited
("Conister") and Conister Finance & Leasing Ltd ("CFL"),
announced details of its significant Government approved
appointments to provide Government-backed funding to SMEs both in
the Isle of Man and the UK. This included a Disruption Loan
Guarantee Agreement and Working Capital Loan Agreement in the Isle
of Man and the British Bank Loan Scheme and the Coronavirus
Business Interruption Loan Scheme ("CBILS") in the UK.
The Group, through CFL, is now pleased to announce that CFL has
received approval for an increase in its lending allocation for
CBILS to GBP15 million. The CBILS have an 80% indemnification for
any loss and are guaranteed by the UK Government.
Douglas Grant, the Group's Finance Director, commented:
"I am extremely pleased that CFL has been selected to provide
additional Government-backed funding to assist SMEs as it is clear
that lenders such as ourselves continue to be recognised as a vital
component in keeping the SME sector alive."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation No. 596/2014 on market abuse. Upon
the publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
For further information, please contact:
Manx Financial Group Beaumont Cornish Limited Greentarget Limited
PLC Roland Cornish/James Dafina Grapci-Penney
Denham Eke, Chief Executive Biddle Tel +44 (0) 203 963
Tel +44 (0)1624 694694 Tel +44 (0) 20 7628 1887
3396
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END
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