HM Treasury has published its weekly update (to close of business on 7 June 2020) on COVID-19 lending schemes designed to support businesses impacted by the pandemic.
Under the Coronavirus Business Interruption Loan Scheme (CBILS), 47,650 businesses have received funding so far, with lenders approving £9.56 billion. This was an increase of £640 million of funding to 1,807 businesses over the previous week.
The Coronavirus Large Business Interruption Loan Scheme (CLBILS) has approved £1.57 billion in loans to 244 larger businesses. In the past week, 53 firms were approved for £460 million in loans.
Under the Bounce Bank Loan Scheme (BBLS), for small and micro businesses, in the five weeks since the launch over 780,000 businesses have successfully applied for funding totalling £23.78 billion.
The Future Fund is a special investment fund for high-growth companies impacted by the crisis, made up of funding from government and the private sector. Funding applications for the Future Fund opened on 20 May 2020 and the first government loans totalling £55.9 million have now been approved for 53 companies.
