Thursday, July 9, 2020

More lenders accredited to British Business Bank Coronavirus business loan schemes

The British Business Bank has approved two new lenders for accreditation to offer COVID-19 business loans to small businesses across the UK.

Tide will join the other 16 lenders who have been accredited to the Bounce Back Loan Scheme (BBLS), since the scheme opened last week.

Alternative finance lender Liberis has also been approved for accreditation by the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS), to offer term loans.

Following their approval, each lender expects to start lending under their respective schemes shortly and will confirm the dates from which they will be ready to receive 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 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.”

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