- More than 1.1 million businesses backed by £46bn through COVID-19 lending schemes
- New report urges banks to support just transition to a sustainable and inclusive economy in wake of pandemic
- Banking and Finance industry welcomes recommendations for "just transition" to net-zero carbon emissions
- The Investment Implications of Climate Risk– an investment manager’s view
- Z/Yen launches first edition of the Smart Centres Index (SCI 1)-London leads but US dominates The Top Ten
- Mastercard launches the FinTech Express program to support the rapid development of European start-ups
- Auriga opens its first offices in Spain and Mexico expired
- Monese partners with Paysafe to bridge the gap between cash and digital banking expired
- SIA and CRIF sign strategic partnership agreement to offer advanced Open Banking services and applications in Italy and Europe. expired
- B-North partners with Wiserfunding for SME credit risk assessment expired
- Stamp duty holiday boost for housing market, but are products available for borrowers to take advantage? asks Moneyfacts expired
- SMEs in corrupt countries discouraged from applying for business loans, says new research expired
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."