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UK government puts banks in the spotlight after releasing BBLS data

News | Online & Mobile Banking | 01 Aug 2022

The UK government has published the first figures on the performance of its three emergency COVID-19 loan guarantee schemes, pushing banks like Starling Bank to explain their reliance on state-back funding.

banks, COVID-19, SMEs, acquisition, data

iwoca releases its SME Expert Index

News | E-invoicing, SCF & E-procurement | 31 Mar 2021

iwoca’s new SME Expert Index has revealed that the most requested reason for applying for unsecured finance was to ‘manage day to day cash flows’, according 41% of respondents.

fintech, lending, cash flow, survey

Nucleus Commercial Finance to lend GBP 200 mln via CBILS

News | Payments General | 06 Jan 2021

UK-based alternative lender fintech Nucleus Commercial Finance has pledged to lend GBP 200 mln to SMEs through the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).

Nucleus Commercial Finance, UK, CBILS, alternative lender, lending, fintech, coronavirus, government backed loan, loan scheme

Challenger banks, oases for SMEs - interview with Starling Bank

Interviews | Online & Mobile Banking | 24 Nov 2020

Anna Mitchell, Starling’s Head of Marketplace, shares the recipe behind the success of Starling and how the challenger bank is positioned to enable SMEs to thrive in challenging times with the use of APIs

Anna Mitchell, Starling, SMEs, APIs, incumbents, payments , lending, financial institutions, digital banking, alternative financial services, fintechs, challenger bank, invoice insurance, digital receipts, Coronavirus Business Interruption Loan, Bounce Back Loan Schemes, TPPs

Iwoca looks to increase CBILS lending to GBP 200 mln

News | Payments General | 13 Nov 2020

UK-based fintech and participant in the Coronavirus Business Interruption Loan Scheme (CBILS) Iwoca has declared intentions to double the amount it lends through the government-backed loans.

iwoca, UK, CBILS, lending, fintech, coronavirus, Bank of England, British Business Bank, SME

Online SME lender Funding Circle acquires GBP 30 mln from British Business Investments

News | E-invoicing, SCF & E-procurement | 09 Nov 2020

Funding Circle, an SME lender that facilitates loans in both the US and parts of Europe, has acquired GBP 30 million in capital from British Business Investments.

SME, Funding Circle, British Business Investments, investment, lending

The UK Chancelor of the Exchequer extends CBILS

News | Payments General | 28 Sep 2020

The UK’s Chancelor of the Exchequer has reported intentions to extend the government loan schemes that have been helping SMEs stay afloat throughout the coronavirus pandemic. 

UK, Chancelor of the Exchequer, CBILS, government loan schemes, SMEs, coronavirus, pandemic, financial aid, fintechs, alternative lenders, accredited lenders, banks, CLBILS, Bounce Back Loans, loans, Future Fund, convertible loans, repayment, Pay As You Grow

British Business Bank grows SME support to GBP 8 bln

News | E-invoicing, SCF & E-procurement | 16 Sep 2020

The British Business Bank (BBB) has grown its stock of support to small- and medium-sized enterprises (SMEs) to GBP 8 billion, with most coming through alternative lenders.

British Business Bank, SMEs, lending

UK-based lenders support 1.2 mln businesses amid pandemic

News | Payments General | 12 Aug 2020

UK-based lenders have provided support to over 1.2 million businesses through government-backed loan schemes, according to HM Treasury statistics. 

UK, United Kingdom, SMEs, lenders, loan, pandemic, government-backed loans, loan schemes, BBLS, CBILS, funding, small businesses, coronavirus, large businesses

1pm announces that lending under the CBILS is now live

News | E-invoicing, SCF & E-procurement | 23 Jun 2020

1pm, the independent provider of finance facilities to UK SMEs, through its wholly-owned subsidiary, Onepm Finance, has announced that lending under the Coronavirus Business Interruption Loan Scheme (CBILS) is now live.

1pm, lending, CBILS, payments , finance, invoice finance, loans, businesses

Greensill, Metro Bank, OakNorth, and Secure Trust Bank join CLBILS

News | Payments General | 11 Jun 2020

The British Business Bank has announced new lenders added to its coronavirus lending schemes.

Greensill, Metro Bank, OakNorth, Secure Trust Bank, CLBILS, lenders, British Business Bank, UK, coronavirus, lending scheme, government-backed loans, Growth Lending, inFund, Invocap, NEL Fund Managers, Triple Point, Paragon Bank, CBILS, Bounce Back Loans

Starling Bank secures EUR 44 mln in fundings

News | Online & Mobile Banking | 29 May 2020

Starling Bank, a UK-based challenger bank, has raised an additional EUR 44 million in funding.

UK, challenger banks, banks, Starling, Harry McPike, JTC, Merian Chrysalis Investment Company, SMEs, coronavirus, COVID-19, Coronavirus Business Interruption Loan Scheme, CBILS, Bounce Back Loan Schemes

OakNorth receives GBP 160 mln in government-backed loans

News | Payments General | 22 May 2020

OakNorth has received a new tranche of cash from the government to lend to companies hit by the coronavirus pandemic.

OakNorth, loans, coronavirus, British Business Bank, economic stimulus package, CBILS, CLBILS, BBL, lenders

UK-based iwoca secures CBILS accreditation

News | Payments General | 20 May 2020

UK-based alternative lender iwoca has received accreditation from the British Business Bank to provide Coronavirus Business Interruption Loan Scheme (CBILS) loans.

iwoca, alternative lender, British Business Bank, CBILS loans, SME, accreditation

OakNorth Bank approves over GDP 86 mln in loans amid lockdown

News | Payments General | 13 May 2020

UK-based OakNorth Bank has approved over GDP 50 million in loans, as well as a GDP 36 million allocation through the Coronavirus Business Interruption Loan Scheme (CBILS). 

OakNorth Bank, lockdown, loans, UK, United Kingdom, CBILS, coronavirus business interruption, loan scheme, traditional lender, SME lending market, pandemic, business support

Temenos supports UK banks to accelerate loan applications

News | Online & Mobile Banking | 13 May 2020

Temenos, a banking software company, has announced that its Temenos Infinity digital omnichannel product is supporting UK-based banks to accelerate loan applications under the government’s Bounce Back Loan Scheme.

Temenos, UK, banks, Bounce Back Loans, COVID-19, coronavirus, banking, software, Temenos Infinity, digital, omnichannel, loans, Coronavirus Business Interruption Loan Scheme, CBILS, SMBs, SMEs, Explainable AI, XAI, AI

New UK bank scheme leads to 100,000 loan applications on first day

News | Payments General | 06 May 2020

UK-based banks have received around 100,000 applications in a single day after The Bounce Back Loans scheme for small businesses was released.

UK bank scheme, the bounce back loans scheme, small businesses, loan application, Barclays, Lloyds, CBILS, coronavirus

OakNorth Bank completes first fund buy-out deal to FORE Partnership

News | E-invoicing, SCF & E-procurement | 04 May 2020

UK-based bank, OakNorth has completed its first fund buy-out deal, providing financing to FORE Partnership, a real estate investment company.

OakNorth Bank, FORE Partnership, buy-out deal, investment, Edmond de Rothschild Real Estate Investment Management, UK, CBILS, coronavirus, COVID-19

Barlcays opens CLBILS to help large corporate clients impacted by COVID-19

News | E-invoicing, SCF & E-procurement | 22 Apr 2020

Barclays has opened the Coronavirus Large Business Interruption Loan Scheme (CBILS) to help large corporate banking clients that are impacted by the COVID-19 pandemic.

Barclays, CLBILS, COVID-19, coronavirus, UK, CBILS, banking, loans, working capital, liquidity, supply chains, FX , Clydesdale Bank, Danske Bank, HSBC, Lloyds Bank, Santander

Funding Xchange partners Experian for launching borrower eligibility portal

News | E-invoicing, SCF & E-procurement | 22 Apr 2020

UK-based Funding Xchange and Experian have launched an online portal for businesses to check eligibility for different types of finance during the COVID-19 pandemic.

Funding Exchange, Experian , UK, COVID-19, loans, bank, coronavirus, CBILS, Commercial Acumen