LendingCrowd | Business Finance for British SMEs
LendingCrowd has been accredited to provide Coronavirus Business Interruption Loan Scheme (CBILS) loans
ICAS partner LendingCrowd is accredited to provide Coronavirus Business Interruption Loan Scheme (CBILS) loans to businesses that have been affected by the Covid-19 pandemic. LendingCrowd can deliver this Government-backed support now to your clients.
Authorised and regulated by the Financial Conduct Authority, LendingCrowd can offer your clients:
- Access to CBILS funding from £50,001 to £250,000 with no personal guarantee required
- A lending decision in as little as 24 hours
- Nothing to pay for the first 12 months
- Rates starting from 5.6%
- No early repayment charges
- A dedicated team based in Scotland with decades of SME lending experience
- No hard sell – if they can’t help, they like to work with you to find the best outcome for your clients
Navigating the funding landscape - a free guide for ICAS Members
During these challenging times, your clients will need help to navigate the financial landscape. LendingCrowd has produced a free guide to the wide range of funding routes that are available to SMEs.
LendingCrowd, one of the leading non-bank lenders headquartered in Scotland, was founded to help SMEs thrive by giving them access to non-bank lending. Since it launched in 2014, LendingCrowd has provided over 900 business loans totalling more than £78 million, including £17 million across Scotland.
In a survey of LendingCrowd borrowers, 25% said they would have been “very unlikely” to obtain funding in its absence, and a failure to secure funds would have been a “missed opportunity” leading to a negative impact on jobs and investment. The funding requirement has become more urgent as many businesses were adversely affected by the Covid-19 pandemic and struggled to get funding through traditional means. LendingCrowd is proud to have been accredited by the British Business Bank to provide Government-backed CBILS loans during these unprecedented times.
Think outside the bank
With a CBILS loan from LendingCrowd, your clients can borrow from £50,001 to £250,000, over either three or five years. The UK Government pays the first 12 months’ interest and any arrangement fees for CBILS loans, and there are no repayments for the first 12 months, giving your clients vital breathing space and helping them through the delicate steps on the road to recovery.
LendingCrowd’s flexible platform allows monthly or one-off overpayments and early repayment in full – with no early repayment charges. The experienced LendingCrowd Credit Team reviews each application on a case-by-case basis. Once the loan is agreed, the money could be in your client’s account the same working day.
The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website.
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