UK Gov Lending Increase during 2020
16 April 2021
UK Borrowing increase in 2020
Lending to small and medium-sized businesses across the UK was 162 per cent higher in 2020 than it was during 2019, says a report from UK Finance which represents businesses in the UK’s banking and finance industry.
The reason for such an increase in borrowing is of course mainly down to the UK’s Government-backed lending schemes to support and help SMEs survive the pandemic, and develop new strategies, products and business models. The report found that though many SMEs have needed the use of finance support, some SMEs have put the money aside for the future. Nationwide deposits were 28 per cent higher at the end of 2020 than they were a year earlier. This suggests that firms are leaving cash in reserve.
£ 7,643.75 as full and final settlement received on a 3 year old debt, just 3 weeks after instruction.
Proactive collection cycle recovers aged debt inside 24 hours.
£ 31,616.44 recovered for 2 companies owed money by the same debtor
