• New figures released today by HM Treasury reveal that the banking and finance industry has now provided £45 billion to over one million businesses through Covid-19 business finance schemes.
• The government-backed Bounce Back Loan Scheme (BBLS) has helped one million businesses to access £30.9 billion worth of loans to help small and micro businesses absorb the Covid-19 financial shock.
• For the country's small and medium sized businesses, the industry has provided £11.5 billion worth of facilities through the Coronavirus Business Interruption Loan Scheme (CBILS) to 53,500 companies.
• The Coronavirus Large Business Interruption Loan Scheme (CLBILS) introduced in April to help larger UK enterprises has now provided £2.6 billion in loans.

Responding to the new HM Treasury figures on Covid-19 support for businesses, Managing Director of Commercial Finance at UK Finance, Stephen Pegge, said:

The banking and finance industry is continuing to deliver on our plan to help businesses of all sizes get through these challenging times.

?Just over two months since it was launched, the Bounce Back Loan scheme has now backed over one million businesses with £30.9 billion worth of lending. Across all the Covid-19 schemes, £45 billion has now gone towards supporting businesses thanks to the tireless efforts of staff working on the ground.

?Today's figures represent part of an unparalleled package of support from the industry which includes commercial lending, capital repayment holidays, extended overdrafts and asset-based finance.

?It's important to remember that any lending provided under government-backed schemes is a debt not a grant, and so firms should carefully consider their ability to repay before applying.

Please find a selection of case studies below which are available for interview. For further information, please contact the UK Finance press office on 020 7416 6750 or email press@ukfinance.org.uk

Case studies

Coronavirus Business Interruption Loan scheme 

Chrysties - independent furniture store in the Scottish Borders

A Hawick-based family firm Chrysties has reopened its independent furniture store in the month of its 30th birthday and been able to retain all 26 staff, who had been furloughed under the UK Government scheme, after securing a £200,000 CBILS funding package from the Royal Bank of Scotland.

Criterion Ices - Ice cream producer based in Suffolk 

Criterion Ices, an ice cream producer that supplies ice cream to the National Theatre and the Royal Opera House, managed to secure a loan through the CBIL scheme worth £250,000. This will help the Suffolk-based business to cover its large overheads, one of which is the electricity costs associated with keeping the specialist ice cream storage rooms going. 

Florence Roby - Uniform supplier in Merseyside 

Hospitality and leisure uniform supplier, Florence Roby, has accessed a six figure loan from Lloyds Bank through the CBIL scheme. The finance will go towards helping the business to divert its resources towards providing PPE to frontline NHS workers. 

Funky Chunky Furniture ? furniture maker in the North East of England

Jarrow-based furniture maker, Funky Chunky Furniture, has secured a Coronavirus Business Interruption Loan Scheme (CBILS) loan from Barclays to support the business over the coming months. The loan will enable the company to continue trading and retain its 23 local staff. 

iTeach - IT support company in Cardiff

iTeach is an IT support company based in Cardiff offering technical support and services to Education and Business customers across the country. The company received a loan from the CBIL schee from Barclays, allowing it to over £700,000 to acquire 2,500 Chromebooks for distribution across Welsh schools. The loan has also helped ensure supplier relationships are maintained, and will mean the company is better placed when it emerges from the crisis.

Moshulu -  Family-run retail business in Devon 

Moshulu, a shoe shop chain based in Devon, has accessed a loan from HSBC via the CBIL scheme in order to help sure up its cash flow. Moshulu runs a 35-strong chain in different parts of the country employing 190 staff. 

One Digital ? Brighton printing firm

Brighton printing firm, One Digital, has secured a six-figure Coronavirus Business Interruption Loan Scheme (CBILS) loan from NatWest, to safeguard the future of the business. The £200,000 funding package will assist with cash flow for rent, wages and printing equipment as the business continues operating through the pandemic with a reduced number of staff on-site. Founded in 1996, One Digital offers printing services for projects of any scale, across any sector, and specialises in lithographic, digital and large format printing.

Bounce Back Loan Scheme

The Flemish Weaver ? Family-oriented pub, Wiltshire

Family-oriented pub The Flemish Weaver secured funding from Barclays via the Bounce Back Loan Scheme (BBLS). The loan helped to ease cashflow pressures and enabled sustainable ways for owner, Robert Carter, to cheer up the community. From Sunday roasts wrapped in tin-foil to pints poured from the pub windows, The Flemish Weaver pivoted their business to ensure it could reopen again.

Wales Ape and Monkey Sanctuary - Powys 

Wales Ape and Monkey Sanctuary in the Brecon Beacons has received a Bounce Back Loan worth £50,000 from Lloyds Bank. The loan will help the sanctuary put in place social distancing measures which include new paths for visitors and help it to manage the drop in ticket sales due to the limited capacity available for guests to the park. 

Other support 

Optimum Medical Solutions - Leeds

Optimum Medical Solutions based in Leeds has received a six figure loan from HSBC to help it to refocus its efforts and investment in its antibacterial product range. With the loan, the company has managed to manufacture millions of anti-bacterial wipes, hand sanitisers and face masks for NHS hospitals and care homes across the UK.

Contact Information

UK Finance Press Team - Press@ukfinance.org.uk