mikes1531
Member of DD Central
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Post by mikes1531 on Sept 15, 2015 13:35:44 GMT
I'm more interested in whatever happened to the plans for the invoice/factoring account..  If it turns out to be another 7%, Provision Fund protected, account I think it will be a bit of a disappointment to those here on the forum.
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sl75
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Post by sl75 on Sept 15, 2015 16:55:56 GMT
I'm more interested in whatever happened to the plans for the invoice/factoring account.. If it turns out to be another 7%, Provision Fund protected, account I think it will be a bit of a disappointment to those here on the forum. Wouldn't the natural course of action be simply to feed those into the QAA now?
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jonah
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Post by jonah on Sept 15, 2015 18:08:23 GMT
I'm more interested in whatever happened to the plans for the invoice/factoring account.. If it turns out to be another 7%, Provision Fund protected, account I think it will be a bit of a disappointment to those here on the forum. As long as the underlying loans also went in MLIA without a PF and with higher rates, people might cope. I think I recall Chris stating some time ago that a principle AC was following was that the MLIA should get the direct access to loans. And at this point an injection of loans would be nice.
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Post by andrewholgate on Sept 16, 2015 14:34:21 GMT
Referral scheme is being worked on.
Loan volumes are number 1 priority now that we have the various accounts launched.
After various legal and operation problems were solved, we appointed a CEO of the Invoice Finance business and he has been in post for 1 month. Leads are coming in and we are working to get deal flow resolved. Once there are sufficient deals, we will look to open up an IFIA or use those deals in the QAA given the fast turn around times on those loans.
As with everything, the best laid plans.... It has taken us longer than planned to get to certain points. Bear with us!
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