British Business Bank helps companies access ВЈ1.14 billion worth of COVID-19 loans with Salesforce

British Business Bank helps companies access ВЈ1.14 billion worth of COVID-19 loans with Salesforce

Predicting demand for a new service or product can be difficult – especially during a pandemic. When the British Business Bank started taking applications for the government’s Future Fund, it was in for a shock. Within 24 hours, it had received 500 applications for loans that would help innovative UK companies weather the COVID-19 storm.

“Access to working capital is critical when a business is starting up and scaling up. Without the Future Fund, some companies would have not survived the pandemic,” said Keira Shepperson, Director of the Future Fund. “By digitalising and automating the lending process, we were able to respond quickly to help companies not only survive but thrive in uncertain times.”

The Future Fund, which was announced by the UK Chancellor in , is just one of four COVID-19 loan schemes being managed by the British Business Bank. 1 year installment loans West Virginia Since , the bank has delivered more than ВЈ79 billion of essential financial support to more than 1.6 million businesses.