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1pm plc

£48 billion borrowed through UK coronavirus loan schemes

Close to £48bn has now been lent out through the government’s coronavirus loan schemes, with the bounce back loan (BBL) programme offering by far the most support for businesses.

It comes as the UK government accelerates plans to reopen the economy. Pubs, restaurants and cafes were opened at the start of this month and gyms, pools and sports facilities can reopen from 25 July.

As it eases the coronavirus lockdown, the government is gradually withdrawing its coronavirus support programmes such as the job retention scheme. The programme pays the wages of workers who may otherwise be laid off.

1pm plc (LON:OPM), established in 2006 is an independent provider of finance facilities to the SME sector. The 1pm plc group offer a full range of business finance solutions to the UK market from asset finance, hire purchase, commercial loans through to invoice finance and factoring.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.