News

HM Treasury has published its weekly update (to close of business on 28 June 2020) on COVID-19 lending schemes designed to support businesses impacted by the pandemic.

Under the Coronavirus Business Interruption Loan Scheme (CBILS), 52,275 businesses have received funding so far, with lenders approving over £11 billion. This was an increase of £540 million of funding over the previous week.

The Coronavirus Large Business Interruption Loan Scheme (CLBILS) has approved £2.33 billion in loans to 359 larger businesses. In the past week, 36 firms were approved for £230 million in loans.

Under the Bounce Bank Loan Scheme (BBLS), for small and micro businesses, over 967,000 businesses have successfully applied for funding totalling £29.51 billion.

The Future Fund is a special investment fund for high-growth companies impacted by the crisis, made up of funding from government and the private sector. Funding applications for the Future Fund opened on 20 May 2020 and loans totalling over £320 million have now been approved for 322 companies.

Source: New feed