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1pm plc

85,000 loans issued to East Midlands businesses

New data reveals more than 85,000 loans have been issued to organisations in the East Midlands under emergency funding in response to the Covid-19 outbreak – injecting more than £3.3bn into the region’s economy.

Some 81,354 loans worth £2.37bn have been offered under the Bounce Bank Loan Scheme (BBLS), while £1.01bn has been provided across 4,124 facilities under the Coronavirus Business Interruption Loan Scheme (CBILS).

These schemes provide financial support to businesses across the UK that are losing revenue, and having their cashflow disrupted, as a result of the pandemic.

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.