The model for Bankera Business Loans was developed at the European Commission hackathon as a response to COVID-19 back in April 2020. The lending solution aims to aid a market segment that has been underserved by legacy banks. Despite the easing of restrictions necessary to stop the spread of COVID-19 around Europe, several businesses are still at risk. For now, Bankera Business Loans are available for Lithuania-based business only. However, on a case by case basis and depending on their business model, companies and freelancers across Europe would be considered for a loan.
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