WIREDGOV

Rain Newton-Smith, CBI Chief Economist, yesterday said:

“Some mid-cap businesses urgently need access to larger loans to tide them over at this critical juncture for the economy.

“Many of them are important regional employers, so the Treasury’s extension of maximum loans to £200m shows just how much they are listening to the concerns of business right now.

“Bounce Back loans are the standout success so far among government packages supporting firms’ cashflow amid the crisis. Meanwhile, lenders are continuing to act at speed to get emergency funds to those businesses most in need.”