- UK fintechs Ebury and MarketFinance have teamed up to expedite the final stretch of CBILS lending.
- And the collaboration will be mutually beneficial amid increased UK neobank SMB focus.
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MarketFinance will provide government-backed funds to Ebury’s small- and medium-sized business (SMB) customers, as the Coronavirus Business Interruption Loan Scheme (CBILS) winds down at the end of this month, according to AltFi.
The government-backed scheme allows eligible SMBs to access loans of up to £150,000 ($191,500) and revolving credit facilities up to £5 million ($6.4 million) each. They have until the end of the month to apply and the British Business Bank extended the approval timeline for lenders by two months until November, and