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Loan Management System

Awarded

ocds-h6vhtk-0679c4International

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

AI Contract Overview

The British Business Bank has awarded a contract to UAB CREDITONLINE for the provision of a comprehensive Loan Management System to support the expansion of its direct lending operations. This system is essential for the bank as it seeks FCA approval for a subsidiary to act as a direct lender, moving beyond its traditional wholesale model to better support the Start Up Loans scheme. The platform will manage the full loan lifecycle, including disbursement, servicing, collections, and recoveries, ensuring that aspiring entrepreneurs can secure the necessary finance and support to grow early stage businesses. The contract is valued at 4,973,032 pounds excluding VAT and spans a five year term from September 15, 2026, to September 14, 2031, with a potential extension available until 2033. This strategic procurement enables the British Business Bank to enhance the supply and regional reach of finance available to UK SMEs by integrating a robust technical infrastructure capable of handling direct lending requirements.

General Info

British Business Bank hired UAB CREDITONLINE for a loan system costing 4,973,032 pounds.

Agency

British Business Bank

Contract Value

NAICS

541512 - Computer Systems Design Services

Place of Performance

GBR

Set-Aside

NONE

Awardee

UAB Creditonline

Documents

award

Low

AI Contract Breakdown

Uniform Contract Format

Contract not broken down yet

CLEATUS splits the solicitation into Uniform Contract Format (UCF) sections: scope, pricing, deliverables, and evaluation criteria.

Timeline

PhaseAwarded

PostedOct 21

Award Notice

AwardedNov 4

Contract was awarded

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Organization & Contact Information

AgencyBritish Business Bank

Contacts1 person available

OfficeN/A

Organization / AgencyBritish Business Bank

Office AddressN/A

Contacts

Procurement

contact@example.gov

+1 (555) 000-0000

Full Description

The British Business Bank is the UK’s economic development bank, with a mission to make finance markets work better for smaller businesses. BBB typically operates on a wholesale basis, partnering with lenders within the existing financial ecosystem to increase the supply, diversity, and regional reach of finance available to UK SMEs. The Start Up Loans scheme (SUL) provides debt finance in the form of a personal loan, to help individuals to start or grow their early stage businesses, driving sustainable growth and unlocking potential. Without SUL, many aspiring entrepreneurs would not be able to secure the finance and support to start and grow their businesses. The operating model utilises a mix of internal platforms and external service providers to support the full loan lifecycle - including disbursement, servicing, collections and recoveries. To support future growth, we are preparing to deliver direct lending operations. As part of this, we are seeking FCA approval for a subsidiary of the British Business Bank to become a direct lender and therefore need to procure a comprehensive Loan Management System (LMS) capable of fully supporting this operating model.