Member Article

Institute of Credit Management expertise for young loans

Philip King, chief executive of the Institute of Credit Management, has been appointed to the board of Start Up Loans, the new Government initiative for young people.

Under the chairmanship of BBC ‘Dragon’ James Caan and support of Lord Young, Mr King will be providing particular guidance in the area of Loan Recovery.

A letter from Lord Young stated: “Based on what you have achieved at the ICM and through your combined expertise in cashflow management and credit, we believe you have the ability to advise on whether or not we have the right mechanism, process, procedure and drawdown facility in place to enable the smooth running of the issuing and recovery of loans.

“One of the key aspects of the success of the programme will be in the measurement of repayments and your expertise in this area will be invaluable to the board being able to effectively manage the success of the project.”

Mr King said: “The appointment reflects the tremendous progress the ICM has made in recent years to promote the importance of managing cashflow and the vital role that professional credit management plays in a successful business – regardless of its size.

“To be in at the beginning of a vision that gives young people the opportunity of turning their entrepreneurial aspirations into reality, and to be working with such a strong and highly respected team, is an exciting prospect, matched only by the prospect of supporting the next generation of entrepreneurs.”

The Start Up Loan scheme aims to give young and emerging talent access to start-up capital and the expertise of an experienced mentor.

This was posted in Bdaily's Members' News section by Tom Keighley .