Global Analysis from the European Perspective. Preparing for the world of tomorrow

Coronavirus: UK banks get 100,000 loan applications on first day

Big UK banks received around 100,000 applications in a single day for a new loan scheme for small businesses.The Bounce Back Loans scheme went live on Monday, with Barclays seeing 200 applications in the first minute and Lloyds 5,000 within three hours. It offers loans up to £50,000 and is designed to be simpler and quicker than the existing Coronavirus Business Interruption Loan Scheme (CBILS). Source BBC

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