white oak, an alternative lender serving UK businesses, says it has exceeded £ 270million in CBILS loans while receiving increased allocation from the British Investment Bank. CBILS, or Coronavirus Business Interruption Loan Scheme, is one of a series of government programs designed to support the UK economy which has been hit by the COVID-19 health crisis. Borrowers can receive up to £ 5million in credit in the form of government guaranteed loans. CBILS has an application deadline of March 31, 2021.
Andy Davies, Managing Director of White Oak Leases & Loans, said that over the past year they have been delighted to have provided essential support to UK SMEs.
“While the UK economy is expected to rebound this year, we believe this increase in our loan allocation will allow us not only to continue to provide a lifeline for businesses, but also to help them grow and prosper,” he said. Davies said.
André A. Hakkak, The president and CEO and co-founder of White Oak Global Advisors, LLC, added that it has been a difficult time for their clients and that they look forward to continuing their partnerships with companies large and small as they “endure. the adversity of the pandemic and look to future growth.