UK Finance responds to extension of Covid-19 lending schemes until 31 January 2021
Responding to the Treasury’s announcement that the deadline for applications to the government-backed lending schemes has been extended until 31 January 2021, Stephen Pegge, managing director of Commercial Finance at UK Finance, commented: “The banking and finance industry is providing unprecedented support to help businesses throughout these tough times, with over 1.4 million firms receiving financing so far under the government-backed lending schemes.
“The extension of the application deadline to January 31 2021 will provide additional time to enable more businesses to access the finance they need, including those impacted by the latest lockdown restrictions.
“In addition, firms that have not yet borrowed their maximum under the Bounce Back Loan scheme will be able to top up their loan should they need more finance to help them through the difficult weeks ahead.
“We now look forward to working with the Treasury and British Business Bank to finalise the details of these changes over the coming week.”
ENDS