The British Business Bank has approved six new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS).
New lenders Bibby Financial Services, iwoca, Scania Financial Services, Triodos Bank UK, Ulster Community Investment Trust (UCIT), and Woodsford TradeBridge will be able to provide financial support to smaller businesses across the UK that are losing revenue and seeing their cashflow disrupted, as a result of the COVID-19 outbreak.
Following their approval, each lender will be putting in place the operations required to start lending under the scheme and will confirm shortly the dates from which they will be ready to start receiving CBILS applications from smaller businesses across the UK.
Keith Morgan, CEO, British Business Bank, said: “Our accredited lenders have seen an incredible demand for Covid-19 business loan schemes since they became available. Accrediting these six 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.”