Greensill, the leading provider of working capital finance for businesses and people globally, is pleased to announce that it has been approved by the British Business Bank as a new accredited lender to provide invoice finance through the Coronavirus Large Business Interruption Loan Scheme (CLBILS).
Greensill is the first fintech to be included in the CLBILS programme and is the only accredited lender to provide invoice finance facilities for qualifying corporates.
This facility will be critically important in providing financial support to mid-sized and larger UK businesses currently suffering disruption to their cashflow.
Greensill is the market-leading provider of working capital finance for businesses and people globally. In 2019, it provided $143 billion of finance to more than 8 million customers and suppliers in more than 175 countries. Volumes, year on year, increased by 115% in the first four months of 2020. Greensill believes that its inclusion in the CLBILS programme is recognition of its highly effective track record of transmitting capital to the real economy, where it is needed most.
Lex Greensill, founder and CEO of Greensill, said: “I am delighted that Greensill has been selected as an accredited CLBILS lender by the British Business Bank. Making sure capital reaches the real economy, where it is needed most, is integral to Britain’s broader economic recovery. Greensill is fully committed to supporting British businesses as they navigate COVID-19 and we will bring all of our capabilities to bear to ensure that companies of all sizes get access to the capital they need.”