Specialist finance provider 1pm has been granted accreditation to expand its lending under the UK government’s Coronavirus Business Interruption Loan Scheme (CBILS) to support creditworthy UK businesses.

The British Business Bank has expanded 1pm’s lending under the UK government’s Covid scheme for SMEs, originally set to end on 30 September, the government recently announced that the CBILS scheme would remain open for applications until 30 November.

James Roberts, chief financial officer at 1pm, said: “CBILS has provided a potential lifeline to many viable UK businesses in these difficult economic times,” adding: “Since becoming an accredited lender we have seen significant appetite amongst our various introductory channels to deploy funds through the scheme.”