The new team has a nationwide lending appetite and an ambitious target of £55 million for lending in 2022. Fiduciam’s interest rates in Scotland remain fully aligned with those offered in England and Wales.
Fiduciam has received £430 million of requests for Coronavirus Business Interruption Loan Scheme (CBILS) loans by the 15th of October and expects to receive at least another £200 million of requests until the 30th of November. As a result, Fiduciam has reallocated a substantial amount of our resources to handle the CBILS application volumes.
Fiduciam tops off its expansion in Northern Ireland with a CBILS loan to a wedding and conference venue. Fiduciam now has a loan pipeline approaching £20 million for CBILS loans from Northern Irish businesses and is looking forward to opening its Belfast office as soon as Covid subsides.
As an accredited lender we are here to help as many SMEs as possible with CBILS loans. During the Covid-19 crisis we continued to stand by our SMEs. We now want to give them a boost out of this crisis, with CBILS.
Fiduciam has just closed two development loans, with a total value of £2.5million, with one using its ‘Stepping Stone’ scheme. The two loans will provide funding for private developments in south London and on the south east coast. Fiduciam is standing by our house builders, providing them with development loan facilities in these challenging times.
