Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
partnership
July 8 2020

British Business Bank approves more lenders for CBILS

Michael Lloyd Industry News, News, Top 3 Bounce Back Loan Scheme, British Business Bank, coronavirus business interruption loan scheme, Covid-19, Funding Circle, Keith Morgan, Satago

The British Business Bank has approved two more lenders, Maven Capital Partners and Satago, to participate in the coronavirus business interruption loan scheme (CBILS).

Alternative asset manager Maven Capital Partners, which backs property bond provider Maven Bonds, and cashflow management firm Satago will be able to provide financial support to smaller businesses impacted by the Covid-19 outbreak.

Maven Capital Partners will issue loans from the Midlands Engine Investment Fund, which provides over £250m of investment to boost small- and medium-sized enterprises’ growth in the Midlands, backed by a CBILS guarantee.

The lenders will be putting in place the operations required to start lending under the scheme and will soon confirm when they will be ready to start receiving applications.

“Our accredited lenders continue to see high levels of demand for Covid-19 business loan schemes,” said Keith Morgan, chief executive, British Business Bank.

“Accrediting these additional finance providers means further support for smaller business customers and continues the British Business Bank’s long-term objective to offer more diverse sources of finance to smaller businesses.”

The British Business Bank has also approved peer-to-peer lending platform Funding Circle to offer bounce back loans. The platform will join the 23 BBLS lenders which have been accredited since the scheme opened.

Last week, two more P2P platforms, LendingCrowd and Folk2Folk, were approved to deliver CBILS.

The bank said it continues to review applications from a wide range of lender types.

New figures from the Treasury have revealed that accredited lenders have provided £45m to businesses through the government’s emergency Covid-19 loan schemes.

One million bounce back loans approved Assetz forecasts final target of £1.5m from Seedrs campaign and future fund

Related Posts

magnifier

Industry News, News, Top 3

Trade association calls for more FCA scrutiny

FOLK2FOLK - Roy Warren MD - head crop (col)

Industry News, News, Top 3

Folk2Folk eyes £100m from institutions as it expands nationally

the acronym fca for Financial Conduct Authority concept represented by wooden letter tiles

Industry News, News, Top 3

FCA to publish initial supervisory work on consumer credit guidance

Popular posts:

  • Chancellor unveils recovery loan scheme
  • The House Crowd goes into administration
  • Budget outlines plans for £15bn of green bonds in 2021
  • Sunak to announce stringent CBILS successor scheme
  • FCA warns The House Crowd investors against using…
  • Government to launch replacement future fund scheme
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by