White Oak’s £10m boost for Yorkshire firms during pandemic
Independent business lender White Oak has today announced that it has £10m to lend to businesses across Yorkshire as part of the Coronavirus Business Interruption Loan Scheme (CBILS).
Delivered through British Business Bank accredited lenders, CBILS is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak.
The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
Andy Davies, Managing Director of Loans & Leases at White Oak, said: “Yorkshire boasts a vibrant SME community, and we’re excited to support those businesses in their recovery from the COVID-19 pandemic.
"The CBILS deadline fast approaches and we’re confident that our straightforward lending approach with on-demand local expertise means that SMEs get the support they need when they need it.”