2020 News and Media

Call for Government to Extend Loan Guarantee Scheme

Government must extend loan guarantee scheme to new lenders to save businesses, says the Alternative Association of Businesss Finance.

The AABF representing many of the new lenders that have been the backbone lenders of many businesses following the exit of the main high street banks from lending to small businesses, is demanding that the Government extends availability of the new 80% Covid19 Government Guaranteed Loan Fund to all the new lenders rather than just the old high street bank, and a relatively small number of lenders already authorised under the existing Enterprise Finance Guarantee Scheme, some of whom don’t even lend to businesses.

Driving the call from the AABF Chairman and Executive Chairman of Just Cash Flow PLC, John Davies said, ‘I have written to the Chancellor, the Business Secretary and the Chief Executive of the British Business Bank to draw to their attention that failure to extend the new Guaranteed Loan Scheme to the very lenders who have backed hundreds of thousands of businesses that the high street banks have rejected will result in the those businesses not now being supported with their urgent cashflow requirements, with the result that many will fail.

Without access to the Guarantee Scheme, and access to the Liquidity Loan Scheme from Government the new alternative lenders will simply not have the ability to lend, and many may just have to exit the market. This will not only have a devastating effect on businesses but will also remove much needed competition in the banking sector. I cannot emphasise enough that the Chancellor must act now. A ‘review in due course’ is simply not an option.’

Many of the new lenders and online banks currently do not qualify for the Guaranteed Loan Scheme, yet are the banks and lenders of choice for an increasing number of businesses.

This also appeared on

Bridging and Commercial

Date Issued March 2020.

Follow @justcashflowuk on Twitter for more like this.

News and Media

Just scroll through the timeline for all our news and video.

2020

2019

2018

2017

2016

2015

2014

  • Interview by Business Connections

    The Business Show 2014 Olympia

    Watch Now
  • Britain Means Business Interview

    John Davies talks about business funding

    Interviewed by Britain Means Business.

    Watch Now
  • Just Cashflow launches BDM recruitment drive

    As industry debates circulate about the value of the human touch versus technology, commercial lender Just Cashflow has proved its positioning on business relationships by prepping to recruit 8 more Business Development Managers.

    Read More
  • FeeRoller

    FeeRoller Launched

    For Professional Firms to cover late payment of fees to them OR for their clients so that they can pay their fees on time.

    Read More
  • With great funds comes great responsibility

    Alternative lenders such as Just Cash Flow are in a privileged and responsible position as we get to see the plans of businesses keen to invest and grow. Many are well thought out, based on...

    Read More
  • Education is key

    "Too many small businesses don't survive"

    Read More
  • MDDegree

    #MDdegree

    Just Cashflow's twitter interview with Bizitalk discussed whether a national qualification for company Directors should exist?

    Read More
  • So you want the cash?

    Then get credit worthy.

    Read More
  • A lack of knowledge can set alarm bells ringing

    Just Cash Flow PLC launched in the UK in early 2014. Marketing Director John Davies reflects on experience to date

    Read More
  • WageRoller Launched

    Just Cash Flow PLC has added a new product to its expanding portfolio of facilities designed to help UK businesses fund their growth.

    Read More
  • Just Cashflow smashes £3m milestone

    After passing £1 million in lending this June, Just Cashflow has now accelerated through the £3 million milestone in what is usually a quiet month for the industry.

    Read More
  • Financial Professional Show sponsor

    Just Cashflow has been revealed as the latest sponsor of the highly anticipated 2014 Finance Professional Show

    Read More
  • Just Cashflow hits £1m in deals

    Just Cash Flow PLC has announced it is celebrating its first million pound milestone, after only soft-launching in March.

    Read More
Insights Logotype

Insights is Just Cashflow's online resource and information centre for ambitious growing businesses.

It offers inspirational profiles, expert knowledge and more, backed up by a range of briefings, checklists and other information that we hope will help you to develop your business.

Read now