1.17 million businesses supported through Covid-19 lending schemes
Responding to the latest HM Treasury figures on Covid-19 support for businesses, managing director of commercial finance at UK Finance, Stephen Pegge, said:
“As the Covid-19 crisis continues, the banking and finance industry is committed to helping the nation’s businesses through these tough times.
“Today’s figures demonstrate the unprecedented levels of support provided by the industry and are testament to the hard work of staff on the ground. More than £49bn has been approved so far to almost 1.2m businesses of all sizes through the government-backed lending schemes.
“This support is just one part of the industry’s wider plan to help businesses in the UK, including commercial lending, capital repayment holidays, extended overdrafts and asset-based finance.
“It’s important to remember that any lending provided under government-backed schemes is a debt not a grant, and so firms should carefully consider their ability to repay before applying.”
