MarketFinance, Capital on Tap to lend through CBILS

May 14, 2020 | Business Lending

Written by FinTech Alliance

MarketFinance, Capital on Tap to lend through CBILS

Four new FinTechs have been approved to issue the government’s Coronavirus Business Interruption Scheme loans.

In Brief:

  • They are MarketFinance, Capital on Tap, Shawbrook Bank and Bank Leumi.

  • There are now over 60 CBILS accredited lenders in the UK.

  • Other FinTechs approved include Starling, OakNorth and Funding Circle.

What does this mean?

Around £5.5bn has been lent so far through CBILS. Initially many SMEs said the process to apply for and receive finance was too slow, and high demand has continued. This has resulted in FinTech solutions being considered and recognised for their efficiency.

Read more here.

More in Business Lending

Greensill becomes CLBILS lender
Business Lending
June 11, 2020

Greensill becomes CLBILS lender

UK FinTech Greensill has been approved for the Coronavirus Large Business Interruption Scheme. I...

Starling lends £90mn Bounce Back Loans in a day
Business Lending
May 14, 2020

Starling lends £90mn Bounce Back Loans in a day

FinTech Starling Bank has lent out £90mn worth of government Bounce Back Loans in just over on...

UK Government offers support for smaller businesses
Business Lending
April 28, 2020

UK Government offers support for smaller businesses

A 100% government-backed loan scheme has been announces for small businesses impacted by Covid-19....

There are no Knowledge Bank in this category

There are no Events in this category