By Daniel Lanyon on Wednesday 26 August 2020
The new line of funding comes after its recent CBILS accreditation by the British Business Bank.
Alternative lender Merchant Money has secured £50m of new cash to lend through the Coronavirus Business Interruption Loan Scheme (CBILS)z.
The lender was recently awarded accreditation by the British Business Bank to lend money to SME via the government-backed scheme. The new funding line was provided by a UK based specialist credit fund.
Merchant Money CEO, Luke Jooste, formerly Funding Circle’s head of real estate finance said the new line of funding “was critical to our business.”
Merchant Money offers short term small business loans, as well as a merchant cash advance product.
The SME lender secured a long-term debt facility of £10m from investor BG Finance back in February.
21 March 2023
Daniel Lanyon