back Back

The British Business Bank approves two new lenders under BBLS & CLBILS

By Megha Bhattacharya

August 26, 2020

  • British Business Bank
  • Europe
Share

british business bankThe British Business Bank has today approved Conister Bank for accreditation to the Bounce Back Loan Scheme (BBLS).  It has also approved Bank of Ireland (UK) for accreditation under the Coronavirus Large Business Interruption Loan Scheme (CLBILS).

The new CLBILS lenders including Bank of Ireland will be able to provide finance to midsized and larger UK businesses with a group turnover of more than £45 million (the upper limit for the existing smaller-business focused CBILS) that are suffering disruption to their cash flow due to lost or deferred revenues during the COVID-19 outbreak.

The lenders will place the operations required to start lending under the schemes and confirm the dates from which they will be ready to start receiving applications from businesses across the UK. The Bank has stated that it will continue to review applications from lenders, including PRA-regulated banks, platform lenders, debt funds, invoice finance lenders, asset finance lenders, and responsible finance lenders.

Recently, the British Business Bank announced that it has approved three new members, including Allied Irish Bank (GB)/AIB (NI), Investec Bank plc, and Mercedes-Benz Financial Services UK Limited for accreditation under the Coronavirus Large Business Interruption Loan Scheme (CLBILS). It also approved Fiduciam as a lender under the Coronavirus Business Interruption Loan Scheme (CBILS) and BBVA under the Coronavirus Large Business Interruption Loan Scheme (CLBILS).

Previous Article

August 26, 2020

WorldRemit joins forces with Sendwave for global digital payments

Read More
Next Article

August 26, 2020

Contis & Currencycloud team up to boost international payments offering

Read More

IBSi Prime News

astra

December 08, 2021

British Business Bank

Transferring money to the right place at the right time: Interview with Gil Akos, CEO of Astra

Read More
  • Daily insightful news analysis
  • Weekly snapshot of the industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Cashfree partners with Dvara Solutions to provide digital disbursements

Read More

Today

Elavon selects Liberis to offer financing solutions for SMEs

Read More

Today

i2c deploys more than 20 new implementations across 10 markets

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
US Financial Services Technology Report 2021

£1,500 / year

Know More
The Future of Digital Banking Report 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More