Whereas now there is just a great deal more choice and complexity.

There was big changes post the 2008 financial crisis.

The high street banks used to drive most of the lending into the market, but that really changed post-2008 and post capital constraints that were put on them by the regulator.

And what we saw post then was the emergence of the alternative market, first with challenger banks, you know, the likes of Shawbrook and Virgin Money and others, and then more latterly, private credit funds which have entered the market, and particularly now in the markets that we're talking about.

So what effect does that have later on if they haven't got everything tied at an early stage?

It, it means that first and foremost, you, you, you don't understand what the capacity is of your, your, your business to be able to potentially raise debt.

We have examples of businesses that have a lot more firepower than they potentially realize, and we have examples of businesses that don't have as much firepower as they want or need to be able to execute their plans.