British Business Bank Adds Fintechs to CBILS Program

The British Business Bank has added fintechs OakNorth Bank and Starling Bank to the more than 40 lenders in the Coronavirus Business Interruption Loan Scheme (CBILS); CBILS provides financial support to SMEs across the UK due to the impact of the COVID-19 pandemic; Keith Morgan, CEO, British Business Bank, commented on the announcement according to Crowdfund Insider: “Our accredited lenders have seen an incredible demand for CBILS in the past few weeks, so we are helping to meet that demand and provide even more choice for smaller businesses by approving additional lenders for accreditation to the scheme. These new lenders will be able to deploy vital funding and get additional finance flowing to smaller businesses across the UK as quickly as possible.” CrowdFund Insider

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