All the updated news related to bounce back loans

All the news related to bounce back loans updated in real time

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Government pays out £62m to cover fraudulent loans, officials reveal

Banks have found that £850 million was borrowed by fraudsters from a Government-backed loan scheme that was launched during the pandemic. The British Business Bank said that while estimates of fraud range into the billions, the lenders administering ...

27 Apr 2022 at 17:55

Small business defaults a ‘danger’ to future returns, British Business Bank says

The state-owned British Business Bank has warned that its returns for the year ahead could take a hit if businesses default on loans amid the deteriorating economy. The bank, which helps small businesses access finance and administered the ...

28 Sept 2022 at 16:16

More than £8 billion of bounce back loans in arrears, new figures show

Businesses are either in arrears or have defaulted on £8.4 billion of Government-backed Covid loans according to new figures released on Monday. New numbers from the Department for Business, Energy & Industrial Strategy show a big jump in ...

05 Sept 2022 at 19:07

City

Surge in companies facing collapse as Government chases down Covid debts

The number of companies in critical financial distress increased by more than one-third year-on-year at the end of 2022, according to an insolvency specialist which warned of an influx of small businesses teetering on the brink of ...

24 Jan 2023 at 13:26

Barber who sent Covid loan cash to IS terrorists in Syria jailed for 12 years

A barber who sent thousands of pounds of Covid-19 bounce back loans to so-called Islamic State terrorists in Syria has been jailed for 12 years. Tarek Namouz, 43, thanked the judge but shouted “May Allah destroy you” at police ...

05 Jan 2023 at 13:27

City

Covid business loans ‘saved hundreds of thousands of jobs’

Three schemes that funnelled £78 billion to businesses around the UK during the coronavirus pandemic might have saved millions of jobs, a report has claimed. Researchers said anywhere between 500,000 and 2.9 million jobs ...

14 Jun 2022 at 01:01

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