It comes after Sky News revealed Rishi Sunak would unveil and overhaul of the aid scheme.
Rates are also expected to be kept as low as possible - at 0.1% - and Mr Sunak is expected to meet with chief executives next week to discuss this further.
Mr Sunak said:"We are making great progress on getting much-needed support out to businesses to help manage their cashflows during this difficult time - with millions of pounds of loans and finance being provided to hundreds of firms across the country.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus: Sunak to overhaul SME loan schemeChanges to the Coronavirus Business Interruption Loan Scheme will be announced as soon as this week, Sky News learns.
Read more »
Coronavirus: Sunak to overhaul SME loan schemeChanges to the Coronavirus Business Interruption Loan Scheme will be announced as soon as this week, Sky News learns.
Read more »
UK banks banned from requesting personal guarantees for loansRishi Sunak says lenders must ‘do their part’ to aid small businesses during Covid-19 crisis
Read more »
130K inquiries, 1K loans: why UK government had to tweak help for small firms130K inquiries, 1K loans: why UK government had to tweak help for small firms | Small business | The Guardian
Read more »
Loan and credit card payments to be frozen for three months in UKFinancial regulator fast-tracks measures to help consumers during coronavirus crisis
Read more »
Loan and credit card repayments likely to be frozen in new coronavirus scheme'Unprecedented' measures could also be a boost for people with an overdraft.
Read more »