Tagged: cbils

August 9, 2020 @ 9:40 pm By JD Alois  |  

The British Business Bank says the Coronavirus loan schemes are benefiting businesses in all corners of the UK. According to a note distributed by the Bank, loans are tracking the business population of each region. The loans are being provided by both traditional financial services… Read More

August 6, 2020 @ 12:51 am By Omar Faridi  |  

Leeds-based Rebuildingsociety, a peer to peer (P2P) lending platform that’s focused on financing options for SMBs, has teamed up with Virtual Finance Director (VFD) so that Rebuildingsociety’s borrowers are able to get updated reports on their accounts. The P2P lender’s borrowers will also receive future… Read More

August 5, 2020 @ 10:33 am By JD Alois  |  

Today the British Business Bank has announced that it has approved Allied Irish Bank, Investec Bank plc, and Mercedes-Benz Financial Services UK Limited have been accredited under the Coronavirus Large Business Interruption Loan Scheme (CLBILS). These three new CLBILS lenders will be able to provide… Read More

August 4, 2020 @ 8:19 am By Omar Faridi  |  

UK-based Fintech iwoca, a company focused on lending to SMEs, is calling for closer collaboration between the country’s largest financial institutions, after securing £100 million to support the operations of small businesses looking for financing via the Coronavirus Business Interruption Loan Scheme (CBILS). The COVID-19… Read More

July 21, 2020 @ 9:19 am By JD Alois  |  

The UK COVID-19 support programs continue to expand as the banking and finance industry has now approved £47.9 billion to over 1.1 million businesses via government-backed coronavirus lending schemes, HM Treasury reports today. Both traditional finance and Fintechs are supporting these programs. Specifically: Coronavirus Business… Read More

July 14, 2020 @ 10:35 pm By Omar Faridi  |  

JustUs technology has reportedly been used to develop a new platform that will focus on assisting businesses that are not able to qualify for the UK government’s COVID-19 financial relief schemes. A community-interest organization has been established by a number of Fintech companies, called ExcludedUK,… Read More

July 14, 2020 @ 11:22 am By JD Alois  |  

This week’s update on COVID-19 support schemes indicates that over 1.1. million UK businesses have been approved to receive £46 billion. The numbers breakdown as follows: Approximately 1.05 million smaller firms have received a total of £31.7 billion through the Bounce Back Loan Scheme, an… Read More

July 8, 2020 @ 9:15 am By JD Alois  |  

Funding Circle (LSE:FCH) has posted an update on its participation and support of COVID-19 relief programs. Funding Circle is facilitating programs in both the US and UK. The SME online lender is participating in the British Business Bank’s (BBB) Coronavirus Business Interruption Loans Scheme (CBILS) and… Read More

July 7, 2020 @ 10:03 am By JD Alois  |  

  HM Treasury has posted its weekly update on its COVID-19 business support schemes and as one would expect the numbers continue to push higher. HM Treasury reports that more than one million businesses have been approved to receive £45 billion in financing support. In… Read More

July 1, 2020 @ 12:13 pm By JD Alois  |  

The British Business Bank has announced six newly approved lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS), three new lenders for accreditation under the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and two new lenders for accreditation to the Bounce Back Loan… Read More

July 1, 2020 @ 8:30 am By JD Alois  |  

Folk2Folk, a unique peer to peer lending firm that focuses on rural businesses, has been approved by the British Business Bank as a lender under the Coronavirus Business Interruption Loan Scheme (CBILS) and will soon be open for CBILS applications, according to a company release…. Read More

June 30, 2020 @ 8:13 am By JD Alois  |  

The Greater London Investment Fund (GLIF) has become an accredited lender under the British Business Bank Coronavirus Business Interruption Loan Scheme (CBILS). This approval means that GLIF funds managed by The FSE Group will repurpose £4.3 million in funding to provide “Coronavirus Resilience Loans” (CRLs)…. Read More

June 24, 2020 @ 11:26 am By JD Alois  |  

UK Fintech Previse has been approved for accreditation by the British Business Bank under the CBILS scheme, according to a note from the company.  An invoice financing platform, Previse recently secured $11 million in funding through an investment round led by Mastercard and Reefknot Investments…. Read More

June 23, 2020 @ 9:53 am By JD Alois  |  

HM Treasury’s weekly update on the COVID-19 business support schemes indicates that lenders, both traditional banks and Fintechs, have provided a growing amount of financing to both smaller and larger firms impacted by the Coronavirus. The main government programs include; the Coronavirus Business Interruption Loan… Read More

June 9, 2020 @ 8:35 am By JD Alois  |  

HM Treasury is out with its weekly update on COVID-19 lending schemes designed to support businesses impacted by the pandemic. According to the update, over 830,000 UK businesses have provided £34.9 billion through the three major government-backed lending programs. £3.6 billion has been granted to… Read More

June 3, 2020 @ 10:53 am By JD Alois  |  

The British Business Bank has approved new lenders for several COVID-19 support schemes. According to a release, JCB Finance will join the other 18 Bounce Back Loan Scheme (BBLS) lenders who have been accredited since the program opened last month. Last Friday, Metro Bank was… Read More

June 2, 2020 @ 11:55 am By JD Alois  |  

HM Treasury has published an update on the various COVID-19 support schemes for UK businesses. Published today, UK lenders have now approved over £31.3 billion in loans for more than 745,000 businesses. The three programs include; The Bounce Back Loan Scheme (BBLS), the Coronavirus Business… Read More

May 29, 2020 @ 7:41 am By Omar Faridi  |  

Charlotte Marsh, managing director at ArchOver, a peer-to-peer (P2P) lending platform supporting SMEs business borrowing, has argued that the COVID-19 outbreak can be viewed as a key opportunity for P2P lenders to provide long-term funding to businesses struggling to cope with the economic challenges created… Read More

May 27, 2020 @ 11:04 am By JD Alois  |  

The British Business Bank has announced the approval of four new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS). The new lenders include; The FSE Group, FW Capital, Mercia Asset Management and Whiterock Finance. The Bank said these lenders will be able… Read More

May 27, 2020 @ 8:03 am By JD Alois  |  

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