Bounce Back Loans
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Government to launch £3bn recovery loan scheme
Replacement recovery loan scheme will offer loans of up to £2m to businesses, backed by a 70% government guarantee in event of default. But small business owners will have to offer personal guarantees first
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Sunak announces new ‘fraud squad’ to target Covid losses
The government has announced a new £25m taskforce to recover money lost to fraud from the Covid-19 emergency loan schemes
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Treasury small business loans could be permanent
Treasury in talks with lenders about making Government-backed loans to SMEs to help them grow a permanent bank offer
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Businesses struggling to repay £20bn of Covid loans
Accountancy firm Azets says businesses struggling to repay Covid-19 debt may default on £20bn of Covid loans, on top of the £4bn worth of fraud the Government already predicts
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Banks to get tougher on bounce back loan defaulters
Government removes guarantees from £240m worth of Bounce Back Loans after banks disclose errors in their own vetting procedures
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