While writing in AltFi LendInvest’s Executive Chairman Christian Faes said the UK government should follow what Australia has done to help non bank lenders better weather the crisis; Australia created a Structured Finance Support Fund which allowed the government to actively buy into the securitization market to support nonbank lenders; the move allowed the capital markets to continue to function, while in the UK capital markets have essentially froze; the UK government approved 40 accredited lenders to help lend £350bn to small businesses, as of Friday about £90m was deployed; Faes argues that the UK is one of the world’s fintech leaders and more needs to be done soon in order for the country to keep that mantle; more importantly if more is not done to save the sector you will see lenders and the businesses they serve start going out of business. Altfi
