Job changed for me a couple of weeks back as my work at the bank has all but dried up.
I am now writing CBILS and CLBILS loans. These are the loans that HM Gov are underwriting.
It’s a right pain. Companies are asking for loans without any real idea as to why they want them and how they are going to repay them. It’s shocking that most businesses can’t prepare a cash flow forecast!
BTW HM Gov are being very helpful and demanding we pay a percentage fee to them for every loan we write designed to be an insurance premium for the potential bad debts and insisting we use the same criteria that we use for normal business or they won’t cover the losses, then berating us for not lending quickly enough!
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