UK Finance’s update on CBILS applications – BCC

Commenting on the latest UK Finance update on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said:

“The increase in companies accessing CBILS is encouraging progress. However, the number of applications processed and approved will need to be increased significantly in what is a crunch week for firms urgently trying to access financial support.

“Our Coronavirus Business Impact Tracker tells us that a concerningly high number of businesses are still finding accessing the scheme too complex and too lengthy. The government and financial institutions must continue to work together to identify practical steps to improve the workings of the CBILS scheme to ensure that cash gets to the frontline as quickly as possible.”

More information on CBILS and Coronavirus support 

 

23 April 2020 |Chamber Marketing
Published in , , ,

Related content

Government proposes to review the Planning System

By Chamber Marketing | 7 August 2020

BCC Coronavirus Business Impact Tracker: Restart of the UK economy “still in first gear” with businesses operating at just half of normal capacity

By Chamber Marketing | 22 July 2020

BCC responds to Prime Minister’s speech setting out next steps in Coronavirus response

By Chamber Marketing | 20 July 2020

Chamber Appoints New Head of York and North Yorkshire and Events

By Chamber Marketing | 17 July 2020

Government urged to help regions by clearing the way for HS2

By Chamber Marketing | 16 July 2020

Chamber responds to Chancellor’s statement

By Chamber Marketing | 8 July 2020