Friday 24 April 2020
Reacting to suggestion that the Chancellor is set to give 100% government guarantee for CBILS loans under £25,000, LCCI CEO Richard Burge said:
“The pace of CBILS lending has increased and that is welcomed. But many applications are still outstanding and the lending criteria of the British Business Bank and the banks is a block by many micro and small businesses seeking support.
“Small business will be encouraged to hear that the Chancellor is considering 100% guaranteed loans, as it will be a big boost to them. But time is short!”