Construction industry COVID support claims hit £22bn

The construction industry has claimed almost £22bn across the government’s four main pandemic support schemes, analysis by Construction News has found.

Since April 2020, firms have taken government loans across the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan scheme totalling £9.6bn and furlough grants worth £4.16bn. Data from the British Business Bank showed construction companies have taken the largest proportion of Bounce Back Loans compared with other sectors, at 17 per cent, and the second most CBILS, at 14 per cent.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Share on twitter
Share on linkedin

More articles like this

Time Finance team embark on 100k challenge in March

39 employees from across the Time Finance Group embarked on a challenge in March to walk, run or cycle and raise money for the Mental Health Foundation – the UK’s leading charity for mental health – whose good work puts

Matt Harding secures Relationship Manager role

Time Finance are pleased to announce that Matt Harding is taking up a Relationship Manager role within their Invoice Finance division. Matt brings over 10 years’ commercial finance experience to the role. Starting his career as a client