Coronavirus: Emergency business loan scheme revamped after criticism
The changes to the business interruption loan scheme will mean more businesses are able to access financial support during the lockdown.
"We have also listened to the concerns of some larger businesses affected by Covid-19 and are announcing new support so they can benefit too," said Mr Sunak. "And now I am taking further action by extending our generous loan scheme so even more businesses can benefit." Perhaps most importantly, the requirement for companies to have first tried to get a normal commercial loan elsewhere will be dropped.
The head of the Confederation of British Industry, Carolyn Fairbairn, described the changes as a"big step forward" although she said more detail was needed.
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