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1pm plc

More than 1.1m businesses have received coronavirus lending support

Lenders have supported more than 1.1 million businesses with £46.3bn of government-backed emergency coronavirus finance, Treasury figures have revealed.

The data is based on support provided through the coronavirus business interruption loan scheme (CBILS), bounce back loans (BBL) and the future fund, which are gradually gaining more involvement from peer-to-peer lenders such as Funding Circle.

Almost 1.05m small and micro businesses have received a total of £31.7bn through the BBL scheme, an increase of £770m over the past week, the Treasury said.

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.