Close to £15 billion lent through government's coronavirus schemes

Almost £15 billion has now been borrowed through government-backed schemes designed to help businesses get through the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury.

Call 02476 251333 / 01926 888865 or email accts@leigh-christou.co.uk

Almost £15 billion has now been borrowed through government-backed schemes designed to help businesses get through the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury.

More than 304,000 businesses have now accessed support through either the Bounce Back Loan Scheme (BBLS), the Coronavirus Business Interruption Loan Scheme (CBILS) or the Coronavirus Large Business Interruption Loan Scheme (CLBILS).

The BBLS has proven the most popular of the support schemes available, with over £8.3 billion lent through the scheme since its launch on 4 May. The BBLS allows small businesses adversely affected by the pandemic to apply for up to £50,000, with the government guaranteeing 100% of the advance.

Lenders have provided £6.1 billion to 35,919 businesses through the CBILS, while loans of £359 million have been approved to 59 mid-sized and larger UK businesses through the CLBILS.

Commenting on the figures, Stephen Jones, Chief Executive of UK Finance, said: 'The banking and finance industry is determined to play its part in helping businesses of all sizes get through these tough times.

'This forms part of the industry's broad package of support for businesses, 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.'

xero-logo.jpg Sage Accountant Partner ACCA Quality Checked ACCA Approved Employer The Academy of Experts Accredited Expert gba-2020.png quickbooks.png
About our team

Leigh Christou Limited was established as a firm of Accountants in 1983 converting to a Limited Liability Partnership in 2010 and today, we continue to build on our enviable reputation for providing excellent advice and first class service to our business and personal clients alike.

Learn more

Latest news
Contact Details

Please call:
02476 251333 / 01926 888865

Leigh Christou Limited, Leofric House, Binley Road, Gosford Green, Coventry, West Midlands CV3 1JN

Home | Contact us | Site map | Accessibility | Disclaimer | Privacy | Help |

© 2021 Leigh Christou Limited. All rights reserved. powered by totalSOLUTION

We use cookies on this website, you can find more information about cookies here.