Tagged: bbls

Over £27 Billion Provided by CBILS, CLBILS and Bounce Back Loans

Each week, HM Treasury publishes updates on approved lending under three COVID-19 related support schemes. This week HM Treasury said £12.47 billion has been approved in the ongoing programs. The breakdown of the funding is as follows: Coronavirus Business Interruption Loan Scheme (CBILS) Data up… Read More

Will UK Government Deliver on Its Promise with CBILS 2.0 Stalled and the Bounce Back Loan Bubble Now Burst?

Some people in government here are talking as if the crisis is over, and that they’ve done all they can for businesses. There are worrying signs that the initial good intentions are fading and that the temptation to manage the numbers and the messages rather… Read More

HM Treasury Posts Figures on COVID-19 Support Schemes, Over £22 Billion in Lending

HM Treasury has provided an update on the progress of the various COVID-19 support programs that have been put in place in the last two months. According to the UK government:   8 million jobs have now been furloughed with £11.1 billion claimed so far… Read More

British Business Bank: More Lenders Added to BBLS and CBILS Including MarketFinance

The British Business Bank has announced new lenders approved for the Bounce Bank Loan Scheme (BBLS) as well as the Coronavirus Business Interruption Loan Scheme (CBILS). The BBLS and CBILS are two programs designed to support the UK economy during the COVID-19 pandemic. Two new… Read More

Starling Bank CEO Provides Update on CBILS Lending, Doubles as Customer Support

Starling Bank, a leading UK digital bank, has been moving rapidly to implement COVID-19 business relief programs authorized by the UK government. Starling is the first Fintech to be approved as a Bounce Back Loan (BBLS) provider and, earlier this week, Starling and Funding Circle… Read More

UK Lenders Have Provided Over £14 Billion in Various COVID-19 Loan Programs

HM Treasury provided an update today on the progress of the various programs designed to backstop the UK economy. These programs include the Bounce Back Loan Scheme (BBLS) targeted at sole traders and small firms, the Coronavirus Business Interruption Loan Scheme (CBILS) for small and… Read More

Fintech Starling Bank Reports £90 million in Bounce Back Loans the First Day & a Half of Availability

Starling Bank, a UK based digital bank, has shared that during the first day and half of availability the Fintech paid out £90 million in Bounce Back Loans. The bank also made a total of £120 million in offers for these loans. Simultaneously, Starling Bank… Read More

HM Treasury Announces Bounce Back Loans of £2,000 to £50,000 for Smaller Firms, No Interest Nor Payments for 12 Months

The UK government has announced a new loan program for smaller firms. The “Bounce Back Loans” are 100% backed by the government providing access to credit ranging from £2,000 to £50,000. The loans will be interest-free for the first 12 months, and businesses can apply… Read More

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