Rishi Sunak set to extend coronavirus business loan support schemes today

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THE Chancellor is expected to extend the coronavirus business loan support scheme today to get them through the winter, according to reports. Rishi Sunak will announce the extra support as part of …

The government is keen to stave off a full second lockdown over fears it could cause the UK's economic recovery to stall or even crash again.

Under the scheme, which launched on May 4 and is available until November 4, firms can get loans worth up to 25% of their turnover, up to a maximum of £50,000. Businesses are then able to pay back the remaining balance over the next five years at a 2.5% interest rate. A HM Treasury spokesperson previously told The Sun: "As we have repeatedly said we keep our package of economic support under constant review.

 

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