Spotcap UK, lender to small and medium sized businesses, has appointed Andrew Caulfield as a senior underwriter. He joins the lender’s growing team, which now consist of 130 employees globally.
84pct of areas in the UK have seen business lending from banks fall in the past year, as they continue to face difficulties in securing finance, according to data collected by debt adviser Hadrian’s Wall Capital. Non-bank lenders are therefore increasingly stepping in to fill this gap, providing UK businesses with much needed funding.
To continue Spotcap’s swift yet rigorous processing of loan applications, Spotcap has appointed Andrew Caulfield as a senior underwriter to its UK team. Andrew brings over six years of experience in risk management with RateSetter in the UK and AIB – Allied Irish Banks, to the role. At Spotcap, he will be responsible for assessing the credentials of companies looking for an unsecured business loan using Spotcap’s in-house developed machine learning technology.
Andrew joins a growing underwriting team, allowing Spotcap to cater to the increasing requests from UK businesses to provide unsecured loans without the need for a personal guarantee. Due to the lender’s rigorous underwriting process, strong team of experts and a straightforward application platform, Spotcap is able to quickly support the financing needs of these businesses.
Niels Turfboer, managing director at Spotcap, said, “Andrew’s appointment highlights our emphasis on a swift yet high-quality loan process for both our partners and clients. His strong background will positively contribute to Spotcap’s reputation with the UK business community as an efficient lender with an experienced team.”
Andrew said of his appointment, “I am delighted to be part of this dynamic and driven team. Together we will continue to support the ever-growing number of businesses looking for financing that fits their needs.”