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Coronavirus-hit firms to get 100% backing for loans in major government U-turn

Rishi Sunak county Major economy Government crisis Coronavirus
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www.mirror.co.uk
mirror.co.uk:

Chancellor Rishi Sunak has said the Government will guarantee loans of up to £50,000 to small businesses. The new fast-track finance scheme will provide loans with a 100% government-backed guarantee - making it quicker for banks to approve the loans to smaller companies.

Rishi Sunak said the new Bounce Back Loans scheme, which will provide loans of up to £50,000, would help bolster the existing package of support available to the smallest businesses affected by the coronavirus pandemic.

Loans to small businesses have been delayed so far in the crisis - as banks struggled to access the financial viability of very small businesses.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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