Loan surge opens door for challengers


Loan surge opens door for challengers

Lucy Burton in the Telegraph looks at how challenger banks are increasing market share by stepping in where larger rivals have pulled back on lending to new business customers. With many banks seeing a surge in applications for Bounce Back Loans – the support finance being rolled out to help small firms through the coronavirus crisis – some have stopped accepting applications so as to manage the backlog. John Cronin, a bank analyst at Goodbody, said this means there is “something of a gap emerging in the market", opening the door for "younger credit institutions" to attract more small business customers.


Read more: The Daily Telegraph


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