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
funding
August 28 2020

Ex-Funding Circle executive secures £50m CBILS funding at new lender

Michael Lloyd Industry News, News, Top 3 coronavirus business interruption loan scheme, Danny Girnun, Funding Circle, Luke Jooste, Merchant Money

The former head of real estate at Funding Circle has secured up to £50m in institutional funding to offer the coronavirus business interruption loan scheme (CBILS) via alternative lender Merchant Money.

Luke Jooste was at Funding Circle for four years, before leaving in July of last year to serve as chief executive of CBILS accredited Merchant Money.

The lender will use the funds – provided by a UK-based specialist credit fund – to assist both new and existing small– and medium-sized enterprise (SME) borrowers across their alternative finance product range, including CBILS loans.

Read more: CBILS could be replaced by some form of the EFG scheme

Read more: The P2P lenders offering CBILS finance with one month until application deadline

“I’m immensely proud of our team, we’ve worked hard during this incredibly difficult operating environment to become CBILS accredited and now to secure this new line of funding, it was critical to our business,” said Jooste.

“This funding line means we’re now in a strong position to provide the much-needed short-term liquidity that viable businesses need to survive the pandemic and financial fallout that they have faced as a result.

“SMEs are the cornerstone of the economy and, with our help, they will continue to provide jobs and contribute to what we believe will be a sustained economic recovery.”

Read more: Government urged to utilise alternative lenders more for Covid-19 support

Trade body chief praises P2P lenders for Covid-19 response Propio raises £278,000 from future fund for Autumn P2P launch

Related Posts

man business analytics and financial Business finances and accounting concept.

Industry News, News, Top 3

ThinCats’ credit processes unchanged despite pandemic

Businessman forecasting a crystal ball

Features, Top 3

Peering into the crystal ball: Industry predictions for 2021

closeup macro fifty euros bankontes background

Global News, Industry News, News, Top 3

EstateGuru reports 50pc rise in annual lending volumes

Popular posts:

  • Government responds to P2P fraud query
  • The alternative lenders accredited for CBILS
  • FCA lumps P2P lending in with higher risk products again
  • 4th Way gives its views on Zopa and Funding Circle returns
  • Funding Circle to offer first and second draw PPP loans
  • SME lender warns many companies will not survive
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