Latest additions to government’s business support schemes unveiled
Shawbrook Bank has been added to the list of approved lenders under the Coronavirus Business Interruption Loan Scheme (CBILS).
The bank, which operates out of the centre of Manchester, is one of four new lenders approved by the British Business Bank, announced today (May 13).
The others are MarketFinance, Bank Leumi (UK) plc (including Leumi ABL Ltd) and Capital on Tap.
They join the 60+ existing CBILS accredited lenders that already offer the scheme to smaller businesses across the UK.
Also, the British Business Bank today added Bank of Ireland UK and Skipton Business Finance to the existing 14 approved lenders under the Bounce Back Loan Scheme announced recently.
Keith Morgan, British Business Bank chief executive, said: “Accredited lenders have continued to see an incredible demand for the COVID-19 business loan schemes.
“Since launch, we have grown the total number of accredited lenders to the schemes by more than 50% to provide even greater coverage and choice for smaller businesses.
“The announcement of a further six new lenders means they will be able to deploy vital funding and get additional finance flowing to smaller businesses across the UK as quickly as possible.”
Shawbrook Bank employs around 800 staff across the UK. In February this year it opened a purpose-designed office at One New Bailey, near Spinningfields, in Salford, having relocated from its former Deansgate premises.
The new premises house more than 50 staff at capacity, touching several functions including corporate lending, customer support and risk and change specialisms.
All lenders accredited under the CBILS have been invited to become accredited to offer loans under the terms of the Bounce Back Loan Scheme.
The British Business Bank said it is working at pace to accredit those lenders who want to provide lending under the scheme to further extend its reach and provide more choice for smaller businesses
The Bounce Back Loan Scheme has previously accredited 14 lenders. These are: AIB, Bank of Scotland, Barclays, Clydesdale Bank & Yorkshire Bank, Danske Bank, HSBC, Lloyds Bank, NatWest, Santander, Starling Bank, The Co-operative Bank, TSB, RBS and Ulster Bank.
