Category: Loans
PFS has welcomed new government support measures, including the Bounce Back Loans and Self-Employment Income Support Scheme.
The SEISS claims service will open on 13 May, with payments set to reach successful applicants by 25 May, or six working days after the claim is made.
Small businesses will be able to apply for loans of up to £50,000 from today, with payouts expected within days.
All four of the new hires will be involved in both the structuring and management of credit risk.
Freedom Finance has partnered with AccountScore to develop the product.
More than £1.33bn in loans was approved in the week from 21 April to 28 April 2020 alone.
In the UK, the CBILS approval rate is 46%, well below the 98% approved by the equivalent scheme in Germany.
Walker will oversee the property finance division’s product lines and develop the bank’s proposition.
The right approach must be taken by applicants, to ensure that banks are able to smoothly work through the high volume of demand.
15% have experienced a drop in their finances, and 19% have had to make an emergency budget to manage during lockdown.