Government extends loan guarantee scheme to cover bigger firms
Banks offering loans will work through weekend so that scheme is ready for Monday
- Coronavirus – latest updates
- See all our coronavirus coverage
The government has sought to allay growing fears about the impact of a protracted Covid-19 lockdown on the economy by announcing that its loan guarantee scheme will be open to mid-sized firms that were in danger of being left out.
On the day that the foreign secretary, Dominic Raab, confirmed that the quarantining period would last for at least a further three weeks, the Treasury said it was taking steps to help businesses with annual turnovers of more than £45m – which are stuck in what has become known as the “squeezed middle”.
Continue reading…