Tagged: coronavirus business interruption loan scheme

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’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

The British Business Bank Commits Additional £25 Million to Assetz Capital for CBILS

Assetz Capital, a peer to peer lender that originates secured loans, has received an additional £25 million from the British Business Bank for the UK Coronavirus Business Interruption Loan Scheme (CBILS). In March, Assetz Capital received £15 million from the British Business Bank to help… Read More

Online SME Lender Funding Circle Comments on CBILS Deadline Extension, Explains How to Apply

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, notes that the Coronavirus Business Interruption Loan Scheme (CBILS) was originally scheduled to end on September 30, 2020. But the UK government has confirmed that the CBILS… Read More

UK P2P Lender JustUs Begins Taking Applications for Small Business Interruption Loan Service or SBILS

JustUs, a UK-based peer to peer (P2P) lender, has reportedly started taking applications for the Small Business Interruption Loan Service (SBILS) in order to offer funding for companies that might not have been able to acquire financial assistance via the Coronavirus Business Interruption Loan Scheme… Read More

P2P Lender MarketFinance Reveals that Many Small Businesses in the UK Could Run Out of Cash Soon

MarketFinance, one of the world’s largest peer-to-peer (P2P) invoice finance platforms, has cautioned that many UK-based SMEs could soon run out of cash. This, as the government-backed funding schemes are scheduled to end soon. The Coronavirus Business Interruption Loan Scheme (CBILS) will end on September… Read More

UK’s P2P Lender Folk2Folk Remains Confident it will Be Approved to Issue Loans Under CBILS Scheme

UK-based Folk2Folk, a peer to peer lender supporting local and rural businesses, has confirmed that it’s still confident that it will be approved to begin lending under the country’s Coronavirus Business Interruption Loan Scheme (CBILS), even though the application deadline will come at the end… Read More

Online SME Lender Funding Circle Confirms BBLS and CBILS Loan Schemes Ending Soon, Explains How to Apply

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, notes that the Bounce Back Loan Scheme (BBLS) will be ending in early November of this year. The BBLS has been provided via the British Business Bank… Read More

Leeds based P2P Lender, Rebuildingsociety, to Use Virtual Finance Director to Help Borrowers Receive Reports on their Accounts

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

Newly Approved Lenders Under British Business Bank Coronavirus Loan Schemes Include Multiple Fintechs

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

Folk2Folk Approved by British Business Bank for CBILS

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

P2P Lender Archover to Begin Offering New Secured Lending Again, According to Charlotte Marsh, MD at ArchOver

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

New Lenders Approved for CBILS

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

CBILS and Bounce Back Loan Data Dashboard Launched by Rangewell

Rangewell, a business finance firm that assists SMEs in accessing capital, has launched a dashboards tracking the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loans – two UK government programs providing support to smaller firms that have struggled in the wake of… 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

Fintech Lender iwoca Approved for CBILS Lending

iwoca, a European alternative lender for small businesses, has been accreditated by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS). iwoca says that existing customers impacted by COVID-19 will be able to apply this week, followed gradually by new customers. The… 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

British Business Bank Adds New Lenders to CBILS Including Fintechs

The British Business Bank has announced nine new lenders for accredited under the Coronavirus Business Interruption Loan Scheme (CBILS), bringing the total number of CBILS lenders to over 60, according to a release. The new lenders include: Assetz Capital, Atom bank, Ebury, Fleximize, Investec, Social… Read More

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