good for Metro in the North country (not Scotland)10 Jun 2020 11:12
https://www.thebusinessdesk.com/northwest/news/2061312-new-lenders-accredited-to-british-business-bank-coronavirus-business-loan-schemes
The British Business Bank has approved new lenders for various government lending schemes, including two Manchester banks.
Four lenders have been approved to administer the Coronavirus Large Business Interruption Loan Scheme (CLBILS), including OakNorth Bank and Secure Trust Bank, who both have Manchester operations.
Metro Bank, which recently opened branches in Manchester and Liverpool, is also one of the four new approvals.
Their appointment means they will be able to provide finance to midsized and larger UK businesses with a group turnover of more than £45m (the upper limit for the existing smaller-business focused CBILS) that are suffering disruption to their cashflow due to lost or deferred revenues during the COVID-19 outbreak.
Following their approval, each lender will be putting in place the operations required to start lending under the scheme and will confirm shortly the dates from which they will be ready to start receiving applications from smaller businesses across the UK.
Keith Morgan, British Business Bank chief executive, said: “Our accredited lenders have seen an incredible demand for COVID-19 business loan schemes since they became available.