Fintech business lender MarketFinance has today announced a £280m debt and equity fundraise and its accreditation under the Recovery Loan Scheme (RLS). This comes after MarketFinance became one of the first fintechs to be accredited under the Coronavirus Business Interruption Loan Scheme (CBILS), having lent £250m to companies across the UK.
Launched by the British Business Bank in April 2021, the Recovery Loan Scheme supports access to finance for UK businesses as they recover and grow following the pandemic. Funding from the Scheme can be used for any legitimate business purpose including managing cashflow, investment in new equipment and preparing for future growth. It is designed to appeal to businesses that can afford to take out additional finance for these purposes.
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