UK Finance’s update on CBILS applications – BCC

Commenting on the latest UK Finance update on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said:

“The increase in companies accessing CBILS is encouraging progress. However, the number of applications processed and approved will need to be increased significantly in what is a crunch week for firms urgently trying to access financial support.

“Our Coronavirus Business Impact Tracker tells us that a concerningly high number of businesses are still finding accessing the scheme too complex and too lengthy. The government and financial institutions must continue to work together to identify practical steps to improve the workings of the CBILS scheme to ensure that cash gets to the frontline as quickly as possible.”

More information on CBILS and Coronavirus support 

 

Related content

A look back at the success of UKREiiF 2024

By Head of Representation | 24 May 2024

Addressing staff shortages in hospitality: the need for bespoke education

By Head of Representation | 22 May 2024

Pavers expansion plan approved following Chamber support

By York and North Yorkshire Chamber President | 17 May 2024

York & North Yorkshire Chamber Leadership Group elections 2024

By Chamber Marketing | 15 May 2024

Bradford President welcomes investment

By Bradford Chamber President | 8 May 2024

Challenges and opportunities for the York and North Yorkshire mayor

By Head of Representation | 8 May 2024