Manx Financial Group PLC Further UK Government-backed lending accreditation (6144J)
August 24 2021 - 5:39AM
UK Regulatory
TIDMMFX
RNS Number : 6144J
Manx Financial Group PLC
24 August 2021
FOR IMMEDIATE RELEASE 24(th) August 2021
Manx Financial Group PLC
Further UK Government-backed lending accreditation
Manx Financial Group PLC (LSE: MFX), the financial services
group which includes Conister Bank Limited and Conister Finance
& Leasing Limited ("CFL"), is pleased to announce its further
accreditation from the UK Government to support the SME market.
CFL has been accredited by the state-owned British Business Bank
for the UK Government's Recovery Loan Scheme ("RLS") to provide
loans that will support businesses of any size to recover and grow
following the disruption of the Covid-19 pandemic. The scheme will
be available (subject to review) until 31 December 2021. The scheme
provides the lender with a government-backed guarantee against 80%
of the outstanding balance of the facility, whereas the borrower
always remains 100% liable for the debt. Applications can be made
for any business purpose, including working capital or investment,
subject to eligibility criteria.
The accreditation under the RLS which follows CFL's successful
distribution of GBP40 million through the Coronavirus Business
Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS)
also administered by the British Business Bank.
Douglas Grant, the Group's Finance Director, commented:
"We are delighted to be able to continue backing SMEs via the
RLS programme. This will provide the necessary catalyst many
sectors require to thrive. We are pleased to see the Government
look beyond the more obviously resilient markets as this scheme is
designed to support those businesses adversely impacted by the
pandemic, such as our hospitality and leisure sectors. Conister
Bank Limited and CFL will continue to do all it can, working
alongside the Government and traditional lenders, to provide the
necessary support."
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART
OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018.
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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