We are really pleased for Danny, Tessie and the team at Merchant Money who have now been approved for accreditation for the Coronavirus Business Interruption Loan Scheme (CBLIS).

The Summit team have been working with Merchant Money over the past year and most recently in getting them prepared to accept applications for the CBILS loans.

Over the past three years, Merchant Money has been quietly shedding its tag as a rising star and establishing itself as a major player in the UK fintech sector. The company went through an exciting year of growth in 2019; appointing several new staff members, including Luke Jooste as new CEO, whilst also securing additional funding earlier this year.

Merchant Money say that their success stems from its flexible approach and ability to adapt to change.

We think it is because they are really great people who have a straight forward and detailed approach to getting the job done.

About the Coronavirus Business Interruption Loan Scheme

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.

The team at Merchant Money along with Summit has been working hard to prepare for the launch of the CBILS facility and will open shortly for new applications. Until then, businesses and Introducers can pre-register on the Merchant Money website.