The UK Should Follow Australia’s Lead in Assisting Non Bank Lenders

While writing in AltFi LendInvest’s Executive Chairman Christian Faes said the UK government should follow what Australia has done to help non bank lenders better weather the crisis; Australia created a Structured Finance Support Fund which allowed the government to actively buy into the securitization market to support nonbank lenders; the move allowed the capital markets to continue to function, while in the UK capital markets have essentially froze; the UK government approved 40 accredited lenders to help lend £350bn to small businesses, as of Friday about £90m was deployed; Faes argues that the UK is one of the world’s fintech leaders and more needs to be done soon in order for the country to keep that mantle; more importantly if more is not done to save the sector you will see lenders and the businesses they serve start going out of business. Altfi

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