David Khan, Author at BLG

BLG Are Now Offering The Recovery Loan Scheme

by David Khan | Nov 11, 2021 | Latest News

From 1st July 2024, the Recovery Loan Scheme has been extended and rebranded to the Growth Guarantee Scheme. Learn More about the Growth Guarantee Scheme.

What Is RLS

The Recovery Loan Scheme (RLS) was launched by the government on the 6^thof April, to help support businesses to recover and grow following the pandemic. The loans range from £25,000 to £10 million and are open to all businesses with a turnover of less than £45 million. This money could be used to manage cash flow, investment, or growth for the business. However, the actual amount offered depends on the terms and conditions of the participating lender.

If your business was supported via the previous COVID-19 guaranteed loan schemes, or who have taken out a CBILS, CLBILS, or BBLS facility, you are still eligible to access RLS loans as long as you meet the below criteria:

Trading in the UK
Be viable were it not for the pandemic
Have been adversely impacted by the pandemic
Not be in collective insolvency proceedings

Businesses of any size and from any sector can apply except the below:

Banks, building societies, insurers, and reinsurers (but not insurance brokers)
Public sector bodies
State-funded primary and secondary schools

How We Can Help You

BLG are one of the listed accredited lenders. As a principal lender specialising in property development finance across the UK, we can help you grow via the recovery loan scheme 2021. Our dedicated team of more than 300 years combined management experience can help you through this process.

We are specialists in property development finance, both residential and commercial. Offering finance ranging from £1 million to £15 million, with competitive terms over 12 to 24 months. Our team of financial experts have the skills and drive to lend and support both small to medium regional developers, unlike high street lenders. Priding ourselves on flexible terms and fast decision making to enable you to move fast and develop your company.

At Autumn Budget 2021, the government announced that the Recovery Loan Scheme will be extended by six months to 30 June 2022. However, from the 1^stof January 2022, there are further changes including a reduction in loan money and business size so contact us today to take full advantage.

Playing Whack-a-Mole With Development Cost Increases

by David Khan | Nov 4, 2021 | Latest News

There has been a leitmotiv recently about costs increasing in the construction industry. We have seen evidence of this with our borrowers, but regional variations for some materials and labour force availability make it difficult at this stage to discern a simple or obvious narrative or even an overall clear percentage increase. Some costs seem to be linked to short-term supply chain issues that get resolved over a reasonably short period of time whereas others are linked to more fundamental global shortcomings which will take a while to wash through. The only pattern at this point is that costs are increasing!

Slightly less visible or discussed increases in other costs such as insurances and warranties. We have seen these increase at significant levels which is catching some developers unaware and leaving them scrambling to look for cheaper alternatives or cashflow to meet them as they arise.

Where we see our borrowers doing best at controlling costs is those that anticipate and plan well ahead. The ability to secure supply and lock in costs or shopping around for the best price seems to be really helping. This requires time and access to cash flow – an area where we can sometimes help with the right preparation and information.

Right now, the residential development market is slightly protected by house prices that keep nudging upwards and continued demand for new housing stock. The risk of interest rate rises may dampen this slightly and it remains the case that looking at every aspect of the cost stack will help to protect margins.

Get those night-vision goggles on and plan ahead!

Cecile Verroest, Risk Director, BLG Development Finance

BLG Wear Yellow For World Mental Health Day

by David Khan | Oct 12, 2021 | Latest News

World Mental Health Day began 10th October 1992 and ever since has been on this day to promote mental health issues, educate the public and to raise awareness globally. It began as an annual activity of the World Federation for Mental Health organisation which consisted of more than 150 countries.

October 10th is an international day that provides an opportunity for everyone to discuss mental health both personally and within the workplace. Additionally, provides a platform for change and to discuss what needs to be done to make mental health care a reality worldwide.

In recognition of the World Mental Health Day on 10th Oct, BLG encouraged all employees to wear something yellow, even if working from home, to show our support. This followed a presentation to all employees on Mental Health and details of our Employee Assistance Programme (EAP) – our key message was to encourage everyone to use this free and confidential service should they need it.

BLG Are Now Offering The Recovery Loan Scheme

What Is RLS

How We Can Help You

Playing Whack-a-Mole With Development Cost Increases

BLG Wear Yellow For World Mental Health Day

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