Maven Capital Partners to distribute COVID-19 loans through Midland Engine Debt Fund
Glasgow-based Maven Capital Partners has become an accredited lender under its Midland Engine Debt Fund, which is backed by a Coronavirus Business Interruption Loan Scheme (CBILS) guarantee.
Under the scheme, Maven will now be able to provide financial support to smaller business which have been impacted financially by the COVID-19 pandemic, The Scotsman reports.
The funding is only available to Maven’s existing borrowers from the Fund.
Last week, Edinburgh-based fintech lending platform LendingCrowd was also approved as a lender under the CBILS scheme.
Keith Morgan, chief executive of the British Business Bank, said: “Our accredited lenders continue to see high levels of demand for COVID-19 business loan schemes. Accrediting these additional finance providers means further support for smaller business customers and continues the British Business Bank’s long-term objective to offer more diverse sources of finance to smaller businesses.”
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