14th July 2020

More than 1.1 million businesses backed by £46bn through COVID-19 lending schemes

More than 1.1 million businesses are now backed by £46 billion through COVID-19 lending schemes:

-HM Treasury figures published today reveal that the banking and finance industry has approved £46.3bn to over 1.1 million businesses so far through government-backed coronavirus lending schemes.
-Almost 1.05 million small and micro businesses have received a total of £31.7bn through the Bounce Back Loan Scheme, an increase of £770m over the past week.
-Lenders have provided £11.9bn worth of facilities to 54,500 companies through the Coronavirus Business Interruption Loan Scheme.
-For larger enterprises, the industry has approved £2.7bn through the Coronavirus Large Business Interruption Loan Scheme to more than 400 businesses whose financial situation has been affected by COVID-19.

Responding to the new HM Treasury figures, Managing Director of Commercial Finance at UK Finance, Stephen Pegge, said
“This significant level of support demonstrates the clear commitment from the banking and finance industry to help businesses get through these tough times.
More than 1.1 million businesses large and small have received £46.3 billion worth of support through the government-backed lending schemes."