CoronaVirus Business Support

New figures from the British Business Bank released on 4/8/20 reveal that the level of support given to British businesses is now over £50Billion

The largest element of funding has come via Bounce Back Loans (£2k to £50k), with the cumulative value of approved facilities totalling £34.34Billion and with over 1.1m businesses approved an average loan size of just over £30k is evident

£13Billion has been approved under CBILS (up to £5m) across just short of 59k businesses suggesting an average loan size of just over £220k.

With more lenders being added to the list it will be interesting to see where the numbers end and particularly interesting to see what level of delinquency becomes evident over time.

Why some lenders have bothered getting accreditation is a mystery as there are some who simply wont lend still.

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