To that end, the companies have pushed for accreditation from the British Business Bank to offer loans under the Coronavirus Business Interruption Loan Scheme (CBILS). Major banks like Lloyds, Barclays, RBS and HSBC have been accepted into the program, but digital lenders like OakNorth, Funding Circle and Starling are looking to join the mix as well.
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UK Top Fintechs Looking to Pick Up Lending Slack Amid Health Crisis
Several of Britain’s top fintechs are racing to plug gaps in the government’s coronavirus relief efforts, namely by executing rapid loans to struggling businesses. So reports CNBC.
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