LONDON (UK) – The UK increased the loan size that large businesses can borrow to get them through the pandemic. This shall take effect from next week.
The loan size has been raised from 50 million pounds to 200 million pounds.
This move will aid those companies which do not qualify for the Bank of England’s COVID Corporate Financing Facility to meet cashflow needs.
“Today we’re increasing the maximum loan to 200 million pounds to make sure companies get the help they need.”
– John Glen, the economic secretary to the Treasury
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.