As lockdown restrictions ease, UK Economy shows Growth
As we head out of lockdown restrictions, the UK economy is showing a positive response, with GDP growing by 6.4% in the first quarter of the year, and a further 2.3% growth in April. Manufacturing is growing at its fastest rate since 1994 and with a majority of people choosing to stay in the UK for their summer holidays, the hospitality sector has seen a huge increase in demand.
As a result, we have seen a big increase in businesses looking to finance new equipment, from upgrading their IT systems, through to breweries and drinks companies needing new equipment to keep up with demand.
Some deals we have been able to facilitate finance for this month include:
· £140K secured for ICT equipment for an expanding communications company
· £38K Vending equipment for a Global managed investment Solution Company
· £168K Secured for a brand new canning line and fermentation tanks for a new start Brewery
· £211K Time and attendance system for one of the UK’s largest logistics companies
· £278K Hot Drinks machines for a world leading medical research company
· £25K commercial brake tester for a well-established vehicle maintenance company