Coronavirus Business Interruption Loan Scheme
2020-05-18
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Q1
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The Treasury is collaborating with the Department for Business, Energy and Industrial Strategy to assess the scheme's effectiveness. Since its launch on 23 March, over £6 billion has been approved through CBILS.
Despite the scheme's launch and initial figures showing progress, uptake remains disappointing necessitating additional measures like bounce-back loans. Could we have more accurate reporting similar to health statistics, possibly by region?
We are examining figures closely and publishing weekly updates. Conversations with banks occur regularly and a roundtable is scheduled this week to monitor progress, ensuring loans reach businesses quickly as intended.
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