With the uncertainty around COVID-19 and its economic impacts, many our of clients have reached out to us with concerns about their personal or business cash flow and questions about the lending landscape.

It’s important to remember that unsecured and secured lending options are still available for both business and personal clients.

We would, however, suggest that all clients consider their current position as soon as possible and assess whether they have a sufficient cash flow to get through the COVID-19 crisis with the minimal possible financial disruption.

When assessing an application for finance, financiers will look at recent and current cash flow and wages. The unfortunate truth is that when cash flow has slowed down or dried up, or savings have been depleted, it is less likely that the bank will consider a cash flow injection. In the past, we have seen too many individuals and businesses leave important financial decisions until too late which has significantly reduced their options or even left no suitable options available.

As always, we also encourage you to get in touch early if you have any concerns about your current loans. We are familiarising ourselves with new hardship policies being developed by each lender in response to the COVID-19 crisis and we are here to support and assist you as best we can with your lender.