Accredited lenders have been given an extra two months to consider applications for finance under the coronavirus business interruption loans scheme (CBILS).
The scheme was due to end on September 30 but there have been calls for an extension.
The British Business Bank has now clarified that firms can have an extra two months to process and approve applications.
1pm plc (LON:OPM), established in 2006 is an independent provider of finance facilities to the SME sector. The 1pm plc group offer a full range of business finance solutions to the UK market from asset finance, hire purchase, commercial loans through to invoice finance and factoring.