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Research has shown the scale of Covid borrowing among Hampshire’s businesses BUSINESSES in Hampshire and the Isle of Wight have borrowed more than £1.6billion in government Covid loans. Research shows 40,879 offers were made to businesses in the county under the Bounce Back Loan initiative or the Coronavirus Business Interruption Loans. The first repayments on the earliest loans were due last month. The highest borrowing locally was in Winchester, where 2,048 businesses were offered a total of £61.7million under the Bounce Back Loan scheme and 163 were offered £41.2m in Coronavirus Business Interruption Loans (CBils), according to a study by insolvency company Business Rescue Expert. That adds up to £102.9m for 2,211 businesses. ....
Research has revealed how much Dorset businesses were offered in Covid loans DORSET businesses have borrowed more than three quarters of a billion pounds under the government’s Covid loan schemes. Research shows 19,347 offers totalling £762.9million were made to the county business under the Bounce Back Loan initiative or the Coronavirus Business Interruption Loans. The first repayments on the earliest loans were due last month and there are warnings that many businesses may collapse while still owing money under the schemes. The highest borrowing locally was in Bournemouth West, where 2,957 businesses were offered a total of £88.2m under the Bounce Back Loans Scheme and 180 businesses received £45.1m in Coronavirus Business Interruption Loans (CBils) – a total of £133.3m to 3,137 businesses, according to a study by insolvency company Business Rescue Expert. ....
What if East Anglian firms default on bounce back loans? | East Anglian Daily Times eadt.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eadt.co.uk Daily Mail and Mail on Sunday newspapers.
Report Claims Bounce Back Loan Defaults Could Hit £27 Billion A report distributed by Business Rescue Expert claims that defaults of Bounce Back Loan Scheme (BBLS) could cost HM Treasury up to £27 billion. BBLS is a key business support program launched by the UK government to help backstop the stumbling economy that was pummeled by the COVID-19 health crisis. According to the British Business Bank, the entity that managed BBLS, 1,531,095 Bounce Back Loans worth £46.5billion, were issued to UK businesses. The Bounce Back Loan Scheme Top-Ups showed 101,666 approved for £0.9 billion. Bounce Back Loans targeted small and micro businesses, providing loans from £2,000 up to 25% of the business’ turnover with a maximum loan of £50,000. These loans provided lenders with a 100% government-backed guarantee and many loans were available within days. These loans held a six-year term at a government set interest rate of 2.5% a year. The government will cover inter ....
The Business Closures That Shook The UK – International Supermarket News internationalsupermarketnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from internationalsupermarketnews.com Daily Mail and Mail on Sunday newspapers.