Recovery Loan Scheme Offers Over £1Bn to Smaller Businesses
£1.06bn offered through almost 6,200 facilities to smaller businesses across the UK Over 5,100 facilities have already drawn down, providing £823m of funding The British Business Bank announces today that the Recovery Loan Scheme has passed a significant milestone, with 76 accredited lenders having offered over £1bn to smaller UK businesses as they steer a path towards a sustainable recovery.
Cynergy Bank Lends a Total of £317m in Coronavirus Business Interruption Loan Scheme (Cbils) Loans
Cynergy Bank lends a total of £317M in Coronavirus Business Interruption Loan Scheme (CBILS) loans Cynergy Bank has successfully loaned over £317m to SMEs through the British Business Bank’s Coronavirus Business Interruption Loan Scheme (CBILS). Across 157 loans, 82 were for existing customers (£127.430m) and 75 to new clients (£189.661m) which supported businesses across the UK including many in the property, hospitality and healthcare sectors.
Robocash Secondary Market Transactions Increased 11 Times in a Year
- 3 years 7 months ago
- Lending, P2P Lending
More than 50% of European P2P platforms provide an opportunity to sell or buy loans in the secondary market. Of those that publish market statistics, 66% confirm these transactions exceeding the level of 2020. The number of investors choosing a secondary market option ranges up to 74% of all investors on the platform.
Gujarat Witnesses 86% Rise in P2P Investments: LenDenClub Data
- 3 years 7 months ago
- Fundraising News, Lending, P2P Lending
Investment in Peer-to-Peer (P2P) Lending has witnessed a rise of 86% in Gujarat as per consumer analysis of LenDenClub, India’s largest P2P lending enterprise as compared with the previous year. LenDenClub analysed its data, drawing insights into the investment patterns and behaviours of investors in the state of Gujarat. The analysis was conducted on its active overall investor base of over 06 lakh for nine months starting from January 2021 to... more
Izola Bank Selects HPD Lendscape to Transform Bank’s Factoring Technology
Izola Bank, a Maltese bank wholly owned by Belgium based Van Marcke Group, has chosen HPD Lendscape, a leading international secured-lending platform vendor, as the Bank’s new technology partner to replace the legacy working capital technology.
ING to Offer Compensation to Dutch Retail Customers With Certain Consumer Credit Products
ING announced today to offer a compensation to our Dutch retail customers with certain revolving consumer loans where the variable interest rate did not sufficiently follow market rates. With this step, ING reacts to a number of rulings by the Dutch Institute for Financial Disputes (Kifid) regarding similar products at other banks.
Vanquis Launches New Personal Loan Range
- 3 years 7 months ago
- Lending, Personal Finance, Banking
Vanquis Bank, part of the Provident Financial Group (PFG), has today announced it’s expanding its product offering by introducing a range of new personal loans. This significant step demonstrates their strategic vision to be a digital first customer led bank, offering a range of tailored financial products for consumers whose needs aren’t well met by high street banks.
Westerra Credit Union Partners with Backbase to Offer Cutting Edge Technology and Transform Members’ Digital Experience
New partnership with Backbase will allow Westerra Credit Union to scale digitally with increased flexibility and speed
Banking Platform Launches to Power SME Lending Across Europe
- 3 years 7 months ago
- Digital banking, Lending, Banking
FIBR brings EUR 1bn of lending to help European SMEs thrive post-pandemic FIBR, the connected digital bank, has launched with the sole focus of servicing European SMEs, through combining the stability of a bank with the agility and technology of a fintech.
Atom Bank Hits One Billion in SME Lending
Atom bank, the Durham-based fintech, is celebrating hitting £1bn in lending to SMEs. The milestone, which was reached on 15 October, includes all completions originated through Atom’s own secured lending and also the bank’s ongoing partnership with Funding Circle to provide unsecured loans to UK SMEs. This latest milestone comes after the UK’s first app-based bank reached several other significant customer and commercial highpoints.
Ferovinum Secures Funding from BCI Finance to Fuel Next Phase of Growth
- 3 years 7 months ago
- Lending, Fund Management
BCI Finance (via the fintech-focused BCI Credit Opportunities Fund) and Ferovinum are pleased to announce the launch of a new funding facility to enable Ferovinum to materially increase the scale of its support for the wine and spirits industries.
Creditspring Launches New Credit Builder Product to Support Millions of Near-prime Borrowers Across UK
Today, Creditspring launches ‘Step’, a new credit builder product which helps people improve their credit score, restore their financial health and to access affordable forms of credit. This comes as new Creditspring research finds that 28% of 18–34-year-olds are unaware of how to improve their credit score.
Global Outage Further Undermines Facebook’s Fintech Ambitions
Facebook-owned platforms’ global outage last week hinders its plans to launch fintech services.
Evolve Bank & Trust Appoints Monica Wharton to Its Board of Directors
- 3 years 7 months ago
- Lending, Banking, Online Banking, People Moves
Evolve Bank & Trust ("Evolve") announced it has appointed Monica Wharton to its Board of Directors. Wharton has an extensive track record of achievement and leadership excellence serving as a senior healthcare executive since 2008. She is currently the Executive Vice President and Chief Administrative Officer for Methodist LeBonheur Healthcare, Memphis, Tennessee.
Lendable to Launch $100 million Emerging Market Fintech Fund with Leading Impact and DFI Investors
- 3 years 7 months ago
- Fundraising News, Lending, Investment
Lendable Inc. ("Lendable" or the "Firm"), a leading emerging market fintech credit provider, is targeting a ground-breaking $100 million closed-ended fund focused on emerging and frontier market fintech investments. The Lendable MSME Fintech Credit Fund (the "Fund") is designed to unlock access to financial services for over 150,000 Micro, Small and Medium Enterprises (MSMEs), providing investors with high impact exposure to important markets... more
