1.63 million loans have delivered £75.1 billion for firms impacted by COVID-19

Last week, the British Business Bank updated on progress pertaining to loans given to UK firms impacted by the ongoing COVID-19 health crisis. Originated under several government programs designed to support businesses during a difficult time, the Bank said that 1,630,155 government-guaranteed loans worth £75.1 billion have been given to firms struggling during the economic challenge.

The British Business Bank said the amount includes 1,531,095 Bounce Back Loans (BBLS) worth £46.5 billion, 98,344 loans worth £23.3 billion through the Coronavirus Business Interruption Loan Scheme (CBILS), and 716 loans worth £5.3 billion through the Coronavirus Large Business Interruption Loan Scheme (CLBILS). 

Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans.

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