FOR IMMEDIATE RELEASE
Resilient UK SMEs appear to be shrugging off Brexit concerns and are determined to invest and grow.
Figures released by alternative lender Just Cash Flow PLC show applications volumes for its finance facilities are currently running at 28% higher than in the week leading up to the Brexit vote.
Director John Davies says," In the run up to the referendum differing reports about which way the vote was going to go was causing a tremendous amount of uncertainty with all sorts of doom and gloom forecasts being made. The one thing all businesses hate is uncertainty and we weren't surprised to see SMEs postponing investment decisions.
We expected this cautious approach to continue for some time while all the speculation about the ramifications of Brexit continued. However, the significant increase in application volumes we are now experiencing and conversations we are having with business owners reveal a different story.
"They are saying a firm decision has been made and Brexit will be Brexit, it is going to take time but we can't put our lives on hold while the politicians debate what it will look like - we need to get on with growing our businesses."
Martin Rutland Head of Public Relations
Just Cash Flow PLC
1, Charterhouse Mews
London EC1M 6BB
Just Cash Flow PLCos registered at the above address under company number 08508165
The Just Loans Group PLC is the first alternative commercial lender to be a Professional Associate Member of the British Banking Association.
The Group is listed on the Cyprus Stock Exchange and has a market capitalisation of £39m.
The Group entered the alternative finance sector in 2012 with the aim of building a robust, scalable, Anti Money Laundering (AML) compliant process for on boarding Corporate Borrowers in the UK and eventually Europe. This was achieved through increasingly using FinTech to streamline the application process and deliver exceptional customer experience.
Having fully proven the model across the Just Loans portfolio, the Group is now positioned to provide these services additionally to Financial Institutions with a need to balance the management of costs with their regulatory obligations under the Anti Money Laundering legislation.
By doing so, both new entrant and established, Financial Institutions are able to serve the business and small corporate market cost effectively and with an improved quality of service.
The Group has invested heavily in developing its proprietary PropensityPlus® scoring model. This is proving to be a major competitive advantage as it drives a comprehensive underwriting process, enabled by the latest technology, leveraging a wide variety of current and historical data points, many of which are not used by traditional banks or other lenders. This provides extensive insight into the propensity for both the Directors and businesses to be successful going forward.
PropensityPlus® achieves significant efficiencies leading to a faster finance application process and a much improved impairment experience across the loan book.
These benefits are seen as attractive both to borrowers and stakeholders as a whole.
18 May 2016 20:00
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