UK Finance responds to HM Treasury announcement
Responding to the announcement from HM Treasury of a change to state aid rules relating to facilities offered under the Coronavirus Business Interruption Loan Scheme, Stephen Pegge, managing director of Commercial Finance at UK Finance, said:
“This change will make a real difference for those smaller, viable businesses who had previously struggled to secure loans under the schemes because they were deemed to be ‘undertakings in difficulty’. Lenders will now be able to help more viable business secure the finance they need and will continue to engage with their commercial customers and assess any new lending applications against the revised rules.”