The initial backlash from the fintech industry to the government-backed loan schemes to help companies damaged by Covid-19 has been tempered in recent weeks as more non-bank lenders have been accredited to two of its key lending schemes, the Coronavirus Business Interruption Loan scheme (CBILS) and the Bounce Back Loan Scheme (BBLS).
The anger - which some fintechs still hold - led to some fintechs putting their heads above the parapet, criticising the British Business Bank (BBB), the government-owned development bank which doles out the loans, for giving Barclays, Lloyds and other traditional banks a competitive advantage over fintechs.
