The banking and finance industry has supported more than one million businesses through the three government-backed lending schemes in just over three months, figures published by HM Treasury today have revealed. Almost 1.02 million facilities worth £42.9 billion have been approved through the Coronavirus Businesses Interruption Loans Scheme (CBILS), Bounce Back Loan Scheme (BBLS) and…

Business lending figures have now risen to £40.7 billion to over 972,000 businesses through the three major government-backed lending schemes according to new figures from HM Treasury. Three months to the day after the launch of the Coronavirus Business Interruption Loan Scheme (CBILS), lenders have approved over 50,000 facilities through the scheme for businesses needing…

International technology-led services and payments specialist, Equiniti Group has announced the launch of an enhanced Know-Your-Customer (KYC) service for asset-based and invoice finance lenders. Equiniti’s dual automated and managed service helps lenders efficiently address the increasing KYC demands brought on by evolving regulation. Furthermore, the service provides futureproof access to third-party data sources through universal…

Optimum Finance has announced that its Founding Director and Chief Executive Officer (CEO) and veteran of the invoice finance sector Richard Pepler sadly passed away on 5th June 2020. The Optimum Finance team, supported by investors JRJ Group, have expressed their sincere condolences to Richard’s family. Richard was well-known and much-loved in the industry and…

More than 910,000 businesses have now been helped by the banking and finance industry through the government’s coronavirus loan schemes. Figures published by HM Treasury has revealed that lenders have provided £38.2 billion through the three major government-backed lending programmes. £3.3 billion has been approved to 83,000 businesses in the past week, with more applications expected…

Nimbla and Dancerace have announced that have partnered to increase SMEs’ access to credit insurance when they apply for invoice finance. The move is designed to help increase SMEs’ confidence at a time when many firms are facing increased defaults by customers.‍ Credit insurance, or Bad Debt Protection (BDP), protects businesses by insuring their outstanding…

A survey conducted by commercial data and analytics firm Dun & Bradstreet found that prior to the coronavirus outbreak only 22 percent of small and medium sized enterprise (SME) respondents viewed securing funding for future growth as a key business priority. With latest figures on COVID-19 related loan schemes suggesting that the pandemic has increased…

Latest figures released by the Treasury have revealed that lenders have approved over £31.3 billion to over 745,000 businesses through government-backed schemes. In the past week alone, more than £3.8 billion in lending has been provided to 94,000 firms through these schemes. More applications have been received and are expected to be approved in the…

Latest figures published by HM Treasury have revealed how the banking and finance sector is helping businesses of all sizes get through these tough times. Lenders have approved £27.5 billion to more than 650,000 businesses so far through the three major government-backed lending schemes. The industry is providing an unprecedented level of support to businesses…

The British Business Bank has announced that it has approved six new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS). New lenders Bibby Financial Services, iwoca, Scania Financial Services, Triodos Bank UK, Ulster Community Investment Trust (UCIT), and Woodsford TradeBridge will be able to provide financial support to smaller businesses across the…

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