Johan Groothaert

Fiduciam lends £9m in Easter week

Fiduciam has announced it lent over £9m in Easter week alone, despite the Covid-19 difficulties.

The total sum was  for cases primarily in the north of England, at an average of 55% LTV and an average monthly interest rate of 0.70%.

The lender expects to close another £10m of loans by the end of April.

Fiduciam has been working collaboratively with other organisations, such as RICS, and most operational issues presented by the outbreak and lockdown have been successfully overcome.

Johan Groothaert, CEO of Fiduciam (pictured above), said: “We have seen many short-term lenders close their doors and this is a pity because it is today [that] they are needed most, especially when lending to businesses.  

“We are very concerned that the general lack of credit for SMEs will exacerbate the crisis, in fact it may be worse than the direct Covid-19 implications for many SMEs.”

He added that he was glad that Fiduciam’s diversified institutional funding model had been proven to work during the pandemic.

“We are grateful to our institutional partners for keeping their commitment to helping to fund small businesses and entrepreneurs in these difficult times.”

Last month, Fiduciam revealed plans to lend €50m (approximately £44.9m) across the Republic of Ireland and Northern Ireland, as well as open a new office in Belfast.

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