Fiduciam was approved for CBILS by the British Business Bank in July 2020. The first house of Fiduciam CBILS was written just one month later, and, by November 2020, SMEs have received loans. completed over £22 million in loans to builders under the program.
The funds were extended to businesses in the United Kingdom and in many different sectors, including – apart from the construction industry – hotels, restaurants, wedding venues, nursing homes, specialized engineering companies, and office and retail space. .
75% of CBILS loans have been repaid which equates to £126 million of outstanding loans.
Fiduciam said the remaining CBILS loan book “is performing well and borrowers are paying interest promptly.”
“It’s easy to forget how dangerous the economy was in the first 12 months of the pandemic,” said Johan Groothaert (pictured), CEO at Fiduciam. “Many of the SMEs that contacted us found themselves in serious financial and operational problems.