UK banks have been preparing themselves for the wave of small and medium-sized enterprises (SMEs) topping up with the Bounce Back Loan Scheme (BBLS) once the Chancellor reopens the coronavirus-related scheme on 9 November. Continue reading
Category Archives: Covid-19 Loans
Heritage organisations set to receive £103 million under Culture Recovery Fund
Some 445 heritage organisations affected by Covid-19 are set to receive more than £103 million in affordable loans and grant funding, it has been revealed. Continue reading
COVID-19: National Audit Office warns up to 60 per cent of Bounce Back Loans may not be paid back
The Government’s spending watchdog, the National Audit Office (NAO), has warned that up to 60 per cent of businesses may not pay back the 100 per cent Government-backed Bounce Back Loans Scheme (BBLS) because of fraudulent applications and minimal credit checks. Continue reading
Government set to announce extension of Coronavirus Business Interruption Loan Scheme
The Chancellor, Rishi Sunak, is expected to announce the extension of the Government’s Coronavirus Business Interruption Loan Scheme (CBILS) until the end of November. Continue reading
Coronavirus Job Retention Scheme rejects claims after employer accounting errors
The Institute of Chartered Accountants in England and Wales (ICAEW) has warned businesses to get “their data right” or face delays receiving grants under the Coronavirus Job Retention Scheme (CJRS). Continue reading
New local lockdown grant fund to act as business “safety net”
Businesses in England affected by “local lockdowns” are set to receive up to £1,500 per property every three weeks to keep their operation afloat, it has been announced. Continue reading
UK businesses borrow more than £52.6 billion to tackle impact of the pandemic
According to the latest industry research, UK businesses have borrowed more than £52.6 billion in a bid to combat the disruption caused by the Coronavirus pandemic. Continue reading
Government launches £2 billion Kickstart employment scheme to create hundreds of thousands of new jobs
The Government has launched the landmark £2 billion Kickstart employment scheme, which is set to create hundreds of thousands of new jobs for young people. Continue reading
SMEs are missing out on £1.5 billion worth of COVID-19 Government support grants
According to the latest research, small to medium-sized enterprises (SMEs) are missing out on almost £1.5 billion in coronavirus business support grants, which have gone unclaimed ahead of the deadline on Friday 28 August. Continue reading
COVID-19 – 1.23 million businesses access Government support schemes
More than 1.23 million UK businesses have accessed COVID-19 support schemes backed by the Government, according to the latest figures from HM Treasury. Continue reading