"We now have the opportunity to open up CBILS to new borrowers."
While many lenders have prioritised existing customers and even blocked new customers from applying for loans backed by the government’s Coronavirus Business Interruption Loan Scheme (CBILS), alternative lender ThinCats has opened its doors.
“Our main priority throughout the pandemic has been on supporting our existing borrowers, however, we now have the opportunity to open up CBILS to new borrowers,” CEO Amany Attia said today.
“For many businesses, coming out of lockdown will require working capital funding particularly as the benefits from government support programmes, such as the Job Retention Scheme, start to unwind. The next few months will present challenges and opportunities for a large number of mid-sized businesses and we look forward to supporting them with our bespoke approach to funding.”
ThinCats was among the first alternative lenders to be accredited for CBILS back in April, and in June joined the larger Coronavirus Large Business Interruption Loan Scheme for businesses with turnovers of more than £45m.
ThinCats was also the first alternative lender to be accredited by the British Business Bank for CLBILS, lending it says remains exclusively for existing customers at present.