UK Digital Banks Waiting to Hear if They Can Help Small Businesses with Government-Backed Loans

Reuters reports the several digital banks in the UK are still awaiting word whether they can offer government-backed loans to small businesses due to the current COVID-19 crisis; this includes OakNorth, Tide and Starling which count hundreds of thousands of small businesses as customers; they have all applied for the Coronavirus Business Interruption Loan Scheme (CBILS); the CBILS, launched Monday was part of a £330 billion package to help companies get through tough times; a similar program was launched back during the last financial crisis which included many of the high street banks. Reuters

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