MarketFinance, Capital on Tap secure CBILS and Bounce Back Loan approvals

MarketFinance, Capital on Tap, Bank Leumi, and Shawbrook Bank have joined over 60 CBILS accredited lenders, and the Bank of Ireland UK and Skipton Business Finance can now offer loans under the BBL scheme. Under CBILS, SMEs can apply for loans from GDP 50,001 to GDP 5 million, whereas BBL loans carry a 100% government-backed guarantee and range from GDP 2,000 to GDP 50,000.

The newly accredited lenders join fellow accredited fintechs Starling Bank, OakNorth, and Funding Circle. According to the latest figures, over GDP 5.5 billion has been lent out to SMEs in CBILS loans since the start of the crisis, including over GDP 2 billion in Bounce Back Loans approved in the first 24 hours of the scheme.

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