COVID Business Support Loans In UK Reach Almost £80B

Law360, London (July 6, 2021, 2:30 PM BST) -- The financial services sector has provided almost £80 billion ($111 billion) in government-backed lending schemes to prop up businesses hit by the pandemic in just over a year, HM Treasury figures published on Tuesday show.

More than 1.6 million loans were approved between April 2020 and May 2021, the Treasury said.

Most of the loans were handed to programs for small and midsized companies. Some £47 million was allocated under the so-called Bounce Back Loan Scheme and another £26 billion was provided under the Coronavirus Business Interruption Loans program, the government said.

Both projects closed to new applicants at the end of...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!