by Nigel Garner MBM Captial
A long, dark, cold month that starts with hope and good intentions but usually ends up being a month we are all glad to see the back of. Cold mornings, dark nights, rain, wind, abandoned resolutions, blue Monday, floods, then lockdown 3!! I bet you feel better already ?!
Last January, the UK finance houses set out their plans for the year; sales targets, lending criteria, risk strategy, target industry sectors; and then came Covid 19 with its own much bigger and demanding agenda.
Suddenly, lending slowed down as business’s reviewed their own position,;customers’ started to require payment holidays and reduce repayments. The impact being that finance house lending (sales) significantly slowed and their revenues (customer repayments) hugely reduced. Now, I’m not saying “pity the poor little bankers”, but the lending industry quickly had to re-think its plans and strategies and adapt to customer demand amid uncontrollable circumstances.
And it did.
Since the lockdown began in March of last year UK finance houses have continued to support UK business with the introduction of government-backed CBILS & BBL and a wealth of lending initiatives. Leasing and HP, Secured & un-secured loans, VAT & CT loans, Asset finance & Re-finance, Invoice finance. All valuable commercial funding products that bring vital finance to your business to enable growth, provide capital and steady cash flow.
At MBM Capital, our technology platform makes all of these finance options easily accessible and with a 95% acceptance rate, UK-wide support and industry-leading rates, we work to provide your business with the right funding at the right price. Contact our team on 0345 680 1895 or email [email protected] to discuss the best option for your business and one of our dedicated relationship managers will assist you through the whole process from proposal to payout.
There is no doubt that the UK finance industry has had to “weather the storm” that was 2020, Still, onwards and upwards, February starts to show new shoots, lighter mornings and a chance to put your “big coat” away for another year.
