Monthly Archives: May 2021

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Forward Advances wants to lend £250m to small businesses by 2023

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Originally written by Timothy Adler on Small Business
Forward Advances, the merchant cash advance provider, wants to provide £250m worth of cash to small businesses in the e-commerce space by 2023.
The lender, which set up in April 2020, is one of a new wave of small business funders base lending decisions based how much you are selling each month. In recent months Clearbanc and eBay have both launched their own versions of what’s known as merchant cash advance in Britain, while PayPal has been offering it for some time.
By tying its technology to your bank data, accounting software or social media ad accounts, a lender has a real-time view of your monthly income. This means repayments fluctuate as a percentage of income, rather than being a fixed amount each month like a bank.
>See also: One third of small businesses turn to Bank of Mum and Dad
Although well-established in America and in Sweden, where the concept originated, merchant cash advances are still a relatively new concept in Britain.
Hasam Silva, managing director of Forward Advances, said: “In the US merchant cash advance or revenue-based financing is a well-understood product but, in the UK, less so. Half of all founders I spoke to last

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How to win £20,000 in TV advertising with Sky Media’s SME100 scheme

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Originally written by Anna Jordan on Small Business
Sky Media has launched the SME100, a £2m support scheme for small businesses, including £20,000 in TV advertising.
What’s more, the 100 winning businesses will get a free 12-month superfast business broadband and digital phone package from Sky Connect, Sky’s new B2B telecoms business. The return of SME100 takes Sky’s contribution to more than £4.5m in advertising support for small businesses since the start of the pandemic.
Once selected, the winners will be put in touch with creative agencies in their local area to design and create their TV campaigns.
SME100 is open to any small business that has been running for at least a year in the UK and have up to 50 full-time employees. The businesses that are selected will be representative of the UK, both from a geographic and diversity perspective. Aligned with Sky’s 2025 targets, it is aimed that 20 per cent of winners will come from an ethnic minority background.
Businesses can nominate themselves online and will be selected by an internal board at Sky. All applicants to the scheme will also receive a £250 discount on any 24-month Sky Connect and digital broadband package.
To apply for the SME100 scheme and see

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