Government support for businesses
Government stimulus measures introduced since March have dominated the finance landscape. But these sources of finance for a business offers only short-term fixes with longer-term debt implications.
Two-thirds of intermediaries say they have received enquiries from clients rejected for the Coronavirus Business Interruption Loan Scheme (CBILS). And 81 per cent have recommended Invoice Finance to those rejected for CBILS
Many fear an increase in insolvencies is likely once Government support measures stop.
Dave Golding, UK Sales Manager, Bibby Financial Services, added: “While the sector is now awash with cheap cash, central support alone won’t save UK businesses.”