Covid-19 loan scheme lending rises to nearly £71bn

New HM Treasury figures have revealed that the banking and finance industry has approved nearly £71 billion to over 1.5 million businesses so far through government-backed coronavirus lending schemes.

Over 39,000 small enterprises have received a Bounce Back Loan over the past month, with a total of 1.47 million businesses accessing the scheme since it launched in May last year. This total includes the 83,173 businesses which have opted to ‘top-up’ their Bounce Back Loans to the full £50,000, or a maximum of 25 per cent of their turnover if lower, available through the scheme.

Source: Credit Connect
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