UK Businesses face-up to post-COVID collections pressures
Since the start of the COVID crisis in March 2020, UK Banks have distributed more than £75billion of lending to 1.6 million firms under the guise of several emergency support schemes set up by Chancellor Rishi Sunak.
As the 12-month interest-free period granted to those firms who took out COVID support loans is coming to an end, and unprecedented repayment collections efforts are being launched, how confident are you that your business has the resources required to manage this huge task?
In our latest Momenta insight, we analyse these significant upcoming challenges facing UK Banks and lending businesses alike, and ask how prepared are they to meet these challenges head-on?