• HMT figures released today reveal that over 1.17 million businesses in the UK have received finance from lenders through the government-backed coronavirus lending schemes. 
• The banking and finance industry has now provided over 1.1 million small and micro businesses with £33.7 billion through the Bounce Back Loan Scheme (BBLS).  
• The Coronavirus Business Interruption Loan Scheme (CBILS) has had continued success, now reaching over 57,000 businesses with £12.7 billion worth of finance and facilities.  
• For larger businesses, the Coronavirus Large Business Interruption Scheme (CLBILS) has now provided 457 businesses with the support they need to get them through these challenging times. 

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

As the Covid-19 crisis continues, the banking and finance industry is committed to helping the nation's businesses through these tough times. 

?Today's figures demonstrate the unprecedented levels of support provided by the industry and are testament to the hard work of staff on the ground. More than £49 billion has been approved so far to almost 1.2 million businesses of all sizes through the government-backed lending schemes. 

?This support is just one part of the industry's wider plan to help businesses in the UK, including 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.

Case studies

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

Coronavirus Business Interruption Loan Scheme (CBILS)

Millmead Optical - Liverpool

A Liverpool-based manufacturer and exporter of eyewear, prescription lenses and accessories secured a CBILS finance package from HSBC UK, enabling the business to safeguard the majority of jobs. Millmead has also sought to use the financing to diversify its supply chain, and has explored the possibility of manufacturing in-house and using more domestic suppliers in the future - mitigating the risk of future disruption and supporting the UK manufacturing sector.

New Forest and Hampshire County Show - Brockenhurst

New Forest and Hampshire County Show, an annual festival aimed at raising funds for the New Forest National Park and various local and national charitable organisations, had to cancel the 2020 event scheduled for July. Thanks to CBILS financing from Lloyds Bank, the organisers were able to refund suppliers and reschedule the event for 2021.

New Design Windows - Barnsley

Barnsley-based regional manufacturer New Design Windows secured a six-figure CBILS package to help it fulfil a significant order book. The manufacturer had only been operating since June 2019, and thanks to support from NatWest was able to maintain sufficient levels of cash flow to pay its suppliers and restart operations as soon as it became safe to do so.

ESP Colour - Swindon

A Swindon-based commercial printing company secured a £1m CBILS loan from Barclays to help cover working capital requirements throughout the pandemic. The financing allowed the firm - which employs 140 staff - to continue operating and fulfil existing client orders, as well as put in place new offerings and services in preparation for normal levels of production.

Wildlife World - Tetbury

A leading retailer of wildlife-friendly garden products in the Cotswolds secured a six-figure CBILS finance package from Lloyds Bank to allow it to transition into an online retailer throughout the nationwide lockdown.

Seamark - Manchester

Seamark, a specialist fish exporter and distributor in Manchester, was able to continue trading throughout the pandemic thanks to a seven-figure CBILS financing package from Barclays. The funding allowed the firm to continue paying suppliers and to put in place protective safeguards to allow its staff to continue to work.

The Spa Leamington - Leamington Spa

The Spa Leamington, a luxury hospitality and beauty business in Warwickshire, sought financing from Lloyds Bank to support the firm throughout the lockdown period. The bank provided a £120,000 CBILS package that has boosted cash flow and supported working capital needs.

Bounce Back Loan Scheme (BBLS)

The Reading Rooms - Walsall

A coffee shop in the market town of Walsall has secured BBLS financing from HSBC UK to support the business as it has transitioned online. The loan facility has supported cash flow throughout the disruption, and has helped the business adapt to changing customer demands.

St Leonards Equestrian Centre - Cornwall

A family-run riding school and stables secured a £50,000 Bounce Back Loan from Barclays, allowing it to ensure that horses were well taken care of throughout lockdown, and helping the business make improvements to its buildings. The centre also opened its four cottages to tourists, with the loan allowing it to introduce the necessary safety measures.

Contact Information

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