UK Banks Approved Only 6,000 SME Loans So Far

UK banks have only approved 6,000 loans for £1.1bn to SMEs as they slowly start to roll out the Coronavirus Business Interruption Loan Scheme or CBILS; there is pressure growing to speed up the process time and to get non bank lenders approved en masse; 250 accountancy firms wrote an open letter to the Chancellor of the Exchequer to include sole traders within CBILS; Chancellor of the Exchequer, Rishi Sunak, said to AltFi: “Getting finance to businesses is a key part of our plan to support jobs and the economy during this crisis – and we’re working with lenders to ensure support reaches those in need as soon as physically possible.”; there have been almost 30,000 applications submitted so far. Altfi

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.