Latest Banking
- Banking and finance industry continues to support businesses across the UK through COVID-19 lending schemes
- UK Finance says card spending fell in October as COVID-19 restrictions tightened
- FCA clamps down on consumer investment harm
- Xero MD comments on strengthening of the Prompt Payment Code
- The UK have now left the EU, but have you read the small print? asks SmartSearch
- ComplyAdvantage announces availability of their strategic guide-"The State Of Financial Crime 2021"
- Juniper Research indicates the number of international roaming subscribers dropped by 73% to 243 million globally in 2020; caused by travel restrictions arising from the COVID-19 pandemic. expired
- Santander CIB reaches new milestone in its sustainability agenda with first ESG corporate finance advisory role in Hydrogen for an industrial player expired
- JPIN VCATS invests £700,000 leading a £2 million raise for FinTech CreditEnable expired
- Mastercard joins forces with FrenchSys to enhance and speed up the roll-out of new payment features and innovations across France expired
- Minna Technologies raises E15.5m to help retail banks enable their subscription management offering expired
- Moneyfacts says UK savings deals vanish and rates drop to new lows expired
19th January 2021
Banking and finance industry continues to support businesses across the UK through COVID-19 lending schemes
Trend
Responding to data published by HM Treasury and the British Business Bank (BBB) which showed that coronavirus loan schemes are continuing to support businesses evenly across the UK, Stephen Pegge, Managing Director of Commercial Finance at UK Finance, comments
:
“The UK’s banking and finance industry is delivering an unprecedented level of support to businesses across the whole country to help them through these challenging times. Over 1.5 million businesses have been helped with government-guaranteed loans totalling over £68bn, with SMEs now able to 'top-up' their Bounce Back Loan to the maximum of £50,000 or 25% of their turnover, if lower.
Government-backed loans are just one part of the industry’s support for businesses across the UK, along with range of additional measures including working capital extensions, overdraft extensions and capital repayment holidays. The outlook for many businesses remains challenging in 2021 and the finance sector and related professional services are focused on the provision of capacity and expertise to help support the turnaround of companies where possible, while ensuring the sympathetic treatment of those businesses which are no longer viable.”
UK Finance Trends(387 articles)
Regulatory & Legal(5981)
