- Covid loans are tapering off as economy exits the pandemic
- Supply chain finance seems to be the way forward
Funding Circle (FCH) interims left investors asking the usual questions about whether the company is simply a clearing house for City loans to small and medium-sized businesses, or a robo-lending vehicle for taking on credit risk – around 60 per cent of its loan decisions are instant. Whatever the future holds, the present looks likely to resemble the past as chief executive Samir Desai steps down at the year-end to take up a back-seat role in favour of long-time UK MD Lisa Jacobs. Getting to grips with a lending environment that looks increasingly cautious after an SME boom led by government-backed business Corona Business Interruption Loans (CBILS) is the first order of business when the new incumbent eventually takes the reins.