New coronavirus recovery loans now available in Cumbria
Grahame Latus, chief executive of Enterprise Answers
Penrith-based Enterprise Answers is the only partner in Cumbria for the a new Government-loan scheme to help businesses recover from the impact of COVID-19.
It has been accredited as a partner for the Recovery Loan Scheme and will deliver loans from £25,001 to £100,000.
The not-for-profit lender has delivered its highest ever volume of lending during 2020/21 to businesses during the pandemic through the Coronavirus Business Interruption Loan Scheme.
Administered on behalf of the Government by the British Business Bank and delivered through accredited delivery partners such as Enterprise Answers, Recovery Loan Scheme funding can be used for any legitimate business purpose, including to manage cashflow and facilitate investment and growth.
One of the challenges for the securitization market last year was the progress of the European Union’s simple, transparent and standardised (STS) regulation. First introduced in 2017, last year was when many of its provisions made it to the rule book, while ever more issuers are using the STS label or otherwise producing the ESMA annexes for their securitisations and are getting used to dealing with the demand for high quality portfolio data. With work continuing on the role of data repositories, this challenge isn’t over yet, says Andrew Mulley, EMEA head of issuer services at Citi.
“Since the implementation of the STS rules and ESMA annexes, the focus is very much on data quality,” he says. “The job of getting that data right is something we’ve been talking about for some time, but really has been brought home as the regulations and annexes have been implemented.”
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