The banking and finance industry has supported more than one million businesses through the three government-backed lending schemes in just over three months, figures published by HM Treasury today have revealed. Almost 1.02 million facilities worth £42.9 billion have been approved through the Coronavirus Businesses Interruption Loans Scheme (CBILS), Bounce Back Loan Scheme (BBLS) and…
Business lending figures have now risen to £40.7 billion to over 972,000 businesses through the three major government-backed lending schemes according to new figures from HM Treasury. Three months to the day after the launch of the Coronavirus Business Interruption Loan Scheme (CBILS), lenders have approved over 50,000 facilities through the scheme for businesses needing…
The banking and finance industry has backed over 830,000 UK businesses through the Government’s coronavirus loan schemes. according to the latest figures published by HM Treasury. The figures reveal that lenders have provided £34.9 billion through the three major government-backed lending programmes. £3.6 billion has been granted to 85,000 businesses in the past week, with…
A survey conducted by commercial data and analytics firm Dun & Bradstreet found that prior to the coronavirus outbreak only 22 percent of small and medium sized enterprise (SME) respondents viewed securing funding for future growth as a key business priority. With latest figures on COVID-19 related loan schemes suggesting that the pandemic has increased…
Latest figures released by the Treasury have revealed that lenders have approved over £31.3 billion to over 745,000 businesses through government-backed schemes. In the past week alone, more than £3.8 billion in lending has been provided to 94,000 firms through these schemes. More applications have been received and are expected to be approved in the…
Latest figures published by HM Treasury have revealed how the banking and finance sector is helping businesses of all sizes get through these tough times. Lenders have approved £27.5 billion to more than 650,000 businesses so far through the three major government-backed lending schemes. The industry is providing an unprecedented level of support to businesses…
The big uptake of Government-backed covid-19 loan schemes raises important questions about small businesses’ concerns over their treatment as customers of the banks, according to a new independent report. The report says that issues arise from the statistically significant participation of Small and Medium Sized Businesses (SMEs) in Government-backed loan schemes. A tightening economy will…
The British Business Bank has announced that it has approved six new lenders for accreditation under the Coronavirus Business Interruption Loan Scheme (CBILS). New lenders Bibby Financial Services, iwoca, Scania Financial Services, Triodos Bank UK, Ulster Community Investment Trust (UCIT), and Woodsford TradeBridge will be able to provide financial support to smaller businesses across the…
The Government has announced that it will extend the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CBILS) from £50 million to £200 million. The maximum loan size increase will help ensure those large firms which do not qualify for the Bank of England’s Covid Corporate Financing Facility (CCFF) have enough…
Latest figures published by HM Treasury today show that the banking and finance industry has approved over £22 billion in loans to more than half a million (505,040) businesses so far through the three major government-backed lending schemes. In the past week alone lenders have provided over £7 billion to businesses through the Bounce Back…