COVID loan woes

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Small firms concerned over Covid loan repayments A third of small businesses are worried they will not be able to repay Covid loans, according to a new poll, while more than half of the firms quizzed said that recovering from the pandemic was a "main challenge" and indicated they may need continuing help. This comes with the end of September bringing the furlough scheme to an end and seeing support loans and payment holidays tapering. Analysis shows that close to one in nine small firms received support from financial institutions or the Government amid the coronavirus crisis, with official figures showing that banks have extended almost £80bn in government-guaranteed loans to 1.56m firms.

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