The latest UK Finance Coronavirus Business Interruption Loan Scheme Update

Commenting on the latest UK Finance figures (7 May) on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said:

“Although the steady improvement in the number of firms accessing CBILS is welcome, with many firms only having a few months’ cash in reserve the pace of delivery remains disappointingly slow.
“The strong start made by the Bounce Back loan scheme is encouraging for the smallest businesses that are struggling to stay afloat. However, more needs to be done to ensure that all businesses get access to the finance they need.

“The current template for Bounce Back loans could be used the improve the provision of the CBIL scheme, including adopting an easier and more consistent application process.

“Government must also be ready to further expand the existing grant schemes to ensure that as many businesses as possible get access to the support they need.”

Visit our webpage for more information 

Related content

Business leaders wanted to help shape region’s economy

By Head of Representation | 11 July 2024

Sir Keir Starmer elected Prime Minister

By Chamber Editor | 5 July 2024

Leeds Leadership Group Elections 2024 – Final Notice & Nominees

By Chamber Marketing | 28 June 2024

An inspirational trade visit to Kenya

By Head of Representation | 21 June 2024

Inflation rate fall is welcome news

By Head of Representation | 19 June 2024

York & North Yorkshire Leadership Group Elections 2024 – Final Notice & Nominees

By Chamber Marketing | 19 June 2024