LONDON (Reuters) – British small businesses have borrowed nearly 24 billion pounds ($30 billion) under a coronavirus credit programme that offers 100% state guarantees for banks providing the loans, more than other, longer-running emergency support schemes.
The Treasury said total lending under the Bounce Back Loan Scheme rose to 23.8 billion pounds by June 7 from 21.3 billion pounds by May 31, a slightly smaller increase than in the previous week.
The separate Coronavirus Business Interruption Loan Scheme, which carries an 80% government guarantee, hit 9.6 billion pounds, up from 8.9 billion pounds a week earlier.
(Reporting by William Schomberg, editing by David Milliken)
