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BANK OF ENGLAND RAISE THE BASE RATE TO 1.25%


Recently we saw the announcement that The Bank of England will be raising their base rate to 1.25%, which is the highest rate for over a decade.

Rates have increased from 1% to 1.25%, the fifth consecutive rise, pushing them to the highest level for 13 years. It comes as finances are being squeezed by the rising cost of living and the record-high fuel and energy prices. Inflation - the rate at which prices rise - is currently at a 40-year high of 9%, and the Bank warned it could surpass 11% later this year.

Increasing rates now means that UK SMEs with existing loans will be forced to spend more on interest payments, reducing cash flow by giving you less disposable income and bigger overheads. That means navigating higher rates will be particularly difficult for companies that have already struggled due to the pandemic and the recent material shortages.

A way that businesses can combat this is to utilise finance options such as equipment finance, business loans or refinance. These methods will help your business cope with the recent inflation as they manage your cash flow more effectively whilst stabilising or even growing the business. Act now and keep your business moving forward!

To find out more about the Benefits of Asset Finance, Equipment Finance or Business Loans then please click on the link to download the full PDF: https://lnkd.in/ePHAgzn9 or contact one of our account managers: info@approved-finance.co.uk or call 01908 429888

If you would like more information on the Bank of England’s decision to increase the base rate to 1.25%, then please click the link below:

 
 
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Approved Business Finance Ltd is an independent asset finance brokerage and not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent finance advisors and so are unable to provide you with independent finance advice. Approved Business Finance Ltd will receive payment(s) or other benefit from the finance provider if you decide to enter into an agreement with them. We will receive commission from our lenders. Approved Business Finance Ltd aims to provide our customers with the highest standards of service. If our service fails to meet your requirements, we will endeavour to find a resolution. 

 

Approved Business Finance Ltd is an Appointed Representative of AFS Compliance Ltd, which is Authorised and Regulated by the Financial Conduct Authority, firm number 625035. Approved Business Finance Ltd is a Franchisee of Asset Finance Solutions (UK) Ltd. Approved Business Finance Ltd is incorporated in England and Wales (company number: 11914104) with its office at Seebeck House, Seebeck Pl, Milton Keynes MK9 8FR

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