LendingCrowd, the Edinburgh-based fintech, has raised£100 million via a funding deal with Barclays Bank and a leading global investment firm. These funds will be used to support the growth and recovery of small and medium enterprises (SMEs) across Britain from the impact of the pandemic. The funding will reach the SMEs through British Business Bank’s Recovery Loan Scheme (RLS) and also via LendingCrowd’s own fixed-term lending product. The fintech will provide RLS loans up to £500,000 and the loans will have a maximum repayment tenure of five years. SMEs in the UK can apply for the said loans via LendngCrowd’s website.
