Two new lenders accredited for coronavirus finance schemes
Two more lenders have been accredited by the British Business Bank (BBB) to provide coronavirus financial support.
Bridging and property lender Fiduciam has been accredited to provide coronavirus business interruption loans and Spanish bank BBVA has been approved to provide loans through the larger version of the scheme.
More than 100 lenders, including P2P platforms such as Funding Circle and Assetz Capital, are accredited to provide coronavirus business interruption loans and the BBB said it continues to review applications from a wider range of lender types.
“Our accredited lenders continue to see high levels of demand for Covid-19 business loan schemes,” Keith Morgan, chief executive of the BBB, said.
“Accrediting these additional finance providers means further support for smaller business customers and continues our long-term objective to offer more diverse sources of finance to smaller businesses.”
It comes as Treasury data shows more than one million businesses have benefitted from loans and guarantees worth £47.9bn through schemes delivered by the BBB.
This includes 1,084,153 Bounce Back Loans worth £32.8bn, 55,674 loans worth more than £12.2bn through the coronavirus business interruption loan Scheme and £2.9bn through the coronavirus large business interruption loan scheme.
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