More than 1.1 million businesses backed by £46bn
Responding to the new HM Treasury figures on Covid-19 support for businesses, 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 £46.3bn worth of support through the government-backed lending schemes.
“This sits alongside the broad package of measures from the industry including commercial lending, capital repayment holidays, extended overdrafts and asset-based finance, ensuring that businesses can receive the right support that suits their needs.
“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.”