Cookies are temporary files we place on your device to improve your user experience, for example to sign up and log in to your account. Find out more about cookies, and how to control them, in our privacy policy. By continuing to use our site, you agree to this policy Close image

LendingCrowd accredited for Coronavirus Business Interruption Loan Scheme

LendingCrowd, the only fintech lending platform headquartered in Scotland, has been accredited by the British Business Bank as a new lender under the Coronavirus Business Interruption Loan Scheme (CBILS). This means LendingCrowd will be able to distribute UK government-backed loans to SMEs impacted by the Covid-19 pandemic, getting support urgently to where it is needed most.

The Coronavirus Business Interruption Loan Scheme, delivered through British Business Bank accredited lenders, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK that are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

LendingCrowd will offer a CBILS loan product, from £50,001 to £250,000 across either a three- or a five-year term. The borrower will have nothing to pay for the first 12 months, giving them vital breathing space to help get their business back on track.

LendingCrowd is offering CBILS loans to new and existing borrowers, subject to eligibility.

Stuart Lunn, founder and CEO of LendingCrowd, said: “We appreciate the stress and struggle that SMEs are going through and that time is of the essence in providing support. Our agile and flexible approach means that we can distribute funding responsibly to those who need it quickly. We have already spoken to every existing borrower, implemented repayment holidays for qualifying borrowers and changed repayment dates to better suit their cashflow patterns at no cost.

“In offering CBILS loans, LendingCrowd can play its part in supporting the survival and resurgence of as many SMEs as possible.”

To find out more and to register your interest in applying for a CBILS loan with LendingCrowd, visit

Article author

Gareth Mackie

Gareth Mackie

LendingCrowd is the trading name of Edinburgh Alternative Finance Limited, Company Number SC468392, authorised and regulated by the Financial Conduct Authority (Firm reference number 670991). LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.

The company's registered office is 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ.

Copyright © LendingCrowd 2024. All rights reserved.