More than a million SMEs now on £45bn of emergency loans

Industry News | 10/07/20

The latest Treasury figures show that £45bn of government-guaranteed loans has been approved to support over one million businesses in the UK, during the Covid-19 pandemic.

As of July 5, the Bounce Back Loan Scheme (BBLS) has helped just over one million small and micro businesses across the UK gain access to £30.9bn, to help absorb the economic shock. According to the data, there are over 200,000 businesses that applied for the BBLS, but are either yet to be approved, may have been rejected or withdrew their application.

Source: Credit Strategy