More lenders approved for Coronavirus loan scheme

The British Business Bank has approved one new lender for accreditation to the Bounce Back Loan Scheme (BBLS) and six new lenders under the Coronavirus Business Interruption Loan Scheme (CBILS).

Investec will join the other 20 BBLS lenders which have been accredited since the scheme opened last month.

New CBILS lenders 4Syte, Asset Finance Partners, JCB Finance, Merchant Money, Sonovate and United Trust Bank will also be able to provide financial support to smaller businesses across the UK that are losing revenue and seeing their cashflow disrupted as a result of the Covid-19 outbreak.

Keith Morgan, CEO, British Business Bank, said: “Our accredited lenders continue to see high levels of demand for Covid-19 business loan schemes. Accrediting these additional finance providers means further support for smaller business customers and continues the British Business Bank’s long-term objective to offer more diverse sources of finance to smaller businesses.”