Responding to the package of measures announced today by the Chancellor to provide ongoing support to businesses over the coming months, Stephen Pegge, Managing Director of Commercial Finance at UK Finance, said: 

The banking and finance industry is providing unparalleled levels of support to businesses large and small to get them through these challenging times. Over 1.3 million businesses have so far received finance through the government-backed loan schemes, and lenders welcome the extension for applications to provide better co-ordination of end dates and allow time to consider what ongoing support is then required.

?These schemes are just one part of a broad package of measures from the industry, alongside commercial lending, capital repayment holidays, extended overdrafts and invoice finance facilities. UK Finance and its members will continue work with the government and other groups to ensure businesses are able to access the finance they need.