Tagged: cbils

Assetz Capital Says they’re Providing Funding to Northern Ireland Market, where Mainstream Lenders are Not Meeting Requirements

Morgan McCandless, Relationship Director at Assetz Capital, a marketplace lending platform originating secured loans, reveals that he re-joined Assetz in June of this year, having previously worked on the Northern Ireland portfolio as a consultant, before the COVID outbreak. As a Relationship Director covering Northern… Read More

British Business Bank Posts Data on COVID Relief Loans: £79.3 Billion Distributed

The British Business Bank has published final data on the COVID relief programs that saw £79.3 billion in government-backed loans distributed to 1.67 million businesses. The UK government created multiple lending schemes designed to support businesses impacted by the Coronavirus. Both traditional financial services firms,… Read More

White Oak Facilitates £400 Million Under Corona Loan scheme to UK small businesses

London-based digital lender White Oak has facilitated loans worth £400 million to SMEs impacted by the pandemic under the Coronavirus Business Interruption Loan Scheme (CBILS). Talking about the adverse impact of the pandemic on small businesses across the UK, Andy Davies, Managing Director of White… Read More

European Fintech iwoca Releases New Index on the SME Lending Landscape

European Fintech firm iwoca has released a new index on the SME lending landscape. As noted in a blog post by iwoca, the company’s “SME Expert Index” is described as “an exclusive” index that includes UK brokers which “gives specialist insight on the health of… Read More

British Business Bank Reports that 1.63 Million Loans Have Delivered £75.1 Billion for Firms Impacted by COVID-19

Last week, the British Business Bank updated on progress pertaining to loans given to UK firms impacted by the ongoing COVID-19 health crisis. Originated under several government programs designed to support businesses during a difficult time, the Bank said that 1,630,155 government-guaranteed loans worth £75.1… Read More

UK’s Invoice Financing Platform MarketFinance Reports Reaching Profitablity, Kicks Off 2021 with Considerable Increase in Lending

UK-based MarketFinance, one of the world’s largest peer-to-peer (P2P) invoice finance platforms, has reported reaching profitability as it returns a record start to the year. The Fintech business lender has reportedly started the year off with a considerable increase in lending volumes. MarketFinance has disbursed… Read More

British Business Bank Report Shows Surge in SME Lending, 89% in 2020 Accessed Credit Due to COVID-19

The British Business Bank reports a surge in SME lending with 89% of businesses seeking funding in 2020 because of Covid-19. The Bank’s Small Business Finance Markets report states that 45% of SMEs surveyed applied for financing in 2020 in contrast to just 13% in… Read More

Alternative Lender White Oak Tops £270 Million in CBILS Lending

White Oak, an alternative lender serving UK businesses, says it has surpassed £270 million in CBILS lending while receiving an increased allocation of by the British Business Bank. CBILS, or Coronavirus Business Interruption Loan Scheme, is one of a series of government programs designed to… Read More

All Non-Essential UK Retail Businesses May Reopen from April 12, 2021, Funding Circle Confirms while Sharing Other Small Business Tips

Online lender Funding Circle (LSE:FCH) recently noted in blog to its small business customers what the roadmap out of the COVID-19 lockdown means for small businesses. On February 22, 2021, the UK government announced its “highly anticipated” four-phase roadmap out of the Coronavirus-related lockdown —… Read More

Challenger OakNorth Bank Completes £4.4 Million CBILS Loan

OakNorth Bank has completed a £4.4 million Coronavirus Business Interruption Loan Scheme (CBILS) loan to complete the development of Beulah Vista Caring Home in London. OakNorth Bank says that the number of care home beds per 100 people over the age of 85 has fallen… Read More

UK’s CBILS Scheme has Become Viable Investment Opportunity for Credit Funds and Specialty Lenders

An article from Global Capital notes that more securitizations of United Kingdom government-backed SME loans are being carried out in private. Last month, Funding Circle had reportedly finalized a deal with Sixth Street and Barclays. Since the UK’s Coronavirus Business Interruption Loan Scheme (CBILS) was… Read More

Chris Macklin from Assetz Capital Explains how P2P Lender Managed the Platform Loan Book During COVID-19 Pandemic

Chris Macklin, Chief Risk Officer at Assetz Capital, a peer-to-peer lender that originates secured loans, has provided a loan book update. As noted in a blog post by Assetz Capital, Macklin explained how the platform managed the loan book during the COVID-19 pandemic and shared… Read More

UK’s SME Lender Nucleus Commercial Finance Acquires £200 Million Funding Line

Online balance sheet lender, Nucleus Commercial Finance, reports that it has secured a £200 million funding line, which should help with increasing the platform’s capacity or ability to support more UK-based businesses. The new funding line should help ensure that the lender is well-positioned to… Read More

Ireland’s P2P Lending Platform Linked Finance Claims it has Received Record Levels of Interest from SMEs looking for Government-backed Loans

Ireland-based Linked Finance, a peer to peer lending platform, has reportedly received record levels of interest from SMEs that are looking for government-backed loans. After recently being approved to serve as a Coronavirus Credit Guarantee Scheme (CCGS) provider,  Linked Finance claims it has received a… Read More

UK Chancellor Extends COVID Loan Schemes, Over 1.5 million UK Businesses Supported So Far

UK Chancellor of the Exchequer Rishi Sunak has extended the government-guaranteed Covid-19 business loan schemes until the end of March. The announcement was joined by confirmation that the furlough scheme has been extended until the end of April 2021. The Chancellor said: “Our package of… Read More

UK’s P2P Lender JustUs Isn’t Expecting Demand for its Platform’s SBILS Loan Scheme to Pick Up Until Goverment Relief Effort Ends

Lee Birkett, founder of UK-based peer-to-peer (P2P) lender JustUs, has noted that he doesn’t think demand for his platform’s Small Business Interruption Loan Service (SBILS) will increase to greater levels until the UK government support schemes have ended. JustUs had introduced SBILS to offer financing… Read More

SoftBank backed Challenger Bank OakNorth Claims it’s been Lending to UK SMEs at Record Levels During COVID

SoftBank-backed Fintech firm OakNorth claims that it has been issuing loans at record levels following the COVID-19 outbreak. Established in 2015, OakNorth was recently valued at $2.8 billion and has managed to achieve profitability. This is not too common for many of the firms or… Read More

HM Treasury Says it’s the Responsibility of Lenders, Not the Government, to Recover Debts Under COVID-related Loan Schemes

The HM Treasury has stated that it’s ultimately the responsibility of lenders, and not necessarily the nation’s government, to recover debts under the different COVID-19 loan schemes and packages. The UK government’s four main business support schemes, which includes the Coronavirus Business Interruption Loan Scheme… Read More

Fintech Lender iwoca to Lend More than £200 Million to UK’s Small Businesses before the CBILS Applications Close in January 2021

iwoca, a European alternative lender for small businesses, is reportedly planning to lend more than £200 million to small businesses before the Coronavirus Business Interruption Loan Scheme (CBILS) applications close in January 2021. iwoca recently surpassed £100 million in CBILS lending. The platform now plans… Read More

Funding Circle the 5th Largest CBILS Lender

Funding Circle (LSE: FCH) has emerged as the 5th largest Coronavirus Business Interruption Lending Scheme (CBILS) originator, according to the company Funding Circle is a top Fintech lender serving the SME market in the UK and several other countries. During its most recent earnings release, Funding… Read More

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