25 September 2020

Government extends Covid support for small businesses  

Written By FinTech Alliance in SME

Government extends Covid support for small businesses  

Chancellor Rishi Sunak has announced an extension of programe that support small businesses through the global pandemic.  

In Brief:  

  • The Bounce Back Loan Scheme can now be paid back in 10 years rather than six.  

  • CBILS has also had an extension of its loan terms.  

  • Businesses can now apply for such loans until the end of November.  

What does this mean? 

CBILS, CLBILS, the Bounce Back Loan Scheme and the Future Fund will now be able to support small and medium enterprises, including a number of FinTechs, for longer. The news comes as the country enters a second wave of Covid-19 which Sunak says could threaten economic recovery.  

Read more here.    

Up Next ...
21 November 2024

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

21 November 2024

Machine Learning: Revolutionizing Fraud Detection in Banking

These technologies enable financial institutions to analyze vast amounts of transaction data in real-time, identify suspicious activities, and minimize false positives...

21 November 2024

MeaWallet Partners with Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs

The collaboration is set to strengthen digital wallet payments and secure card data access capabilities for fintechs

20 November 2024

Atome Financial Secures $200M Credit Facility to Drive Growth

Atome plans to use the funds to strengthen its technological capabilities and grow its market presence, particularly among underserved, young consumers...

More in SME

Novo launches working capital product for SMEs

03 August 2023

Novo, a provider of digital-only banking services for US small ...

Tide expands into India to serve SMEs

07 December 2022

UK business banking FinTech Tide has launched in the Indian ...

Predictive Black acquired by FatBrain

17 November 2022

FinTech Alliance company Predictive Black has been acquired by FatBrain ...

Paysend, Currencycloud partner on SME product

25 August 2022

Paysend Business has launched to help SMEs reach new customers ...

White Papers SME

SME lending – the road to real-time approvals

12 June 2023

How to Build World-Class SME Lending ExperiencesThirty-two percent of SMEs now work with online lend...

White Papers SME

Infographic: The global growth of small businesses

27 October 2021

There isn’t a single part of the world that hasn’t been affected by Covid-19

White Papers SME

Big Opportunity in Small Business Payments - Now Is the Time to Capitalize on SMEs’ Cross-Border Payments

05 May 2021

Small and medium-sized enterprises are a dynamic force in the global economy today and a growing sou...

Articles SME

State of the Nation - SMEs in MENA Report 2019

27 November 2019

Starting a business is no small undertaking. It can be exciting, challenging and ultimately rewardin...

There are no Events in this category