fbpx

News & Blog

Read the latest business news, blogs and thought leadership articles from our members, as well as updates on the Edinburgh Chamber of Commerce's work in the city.

News & Blog

BCC responds to the latest UK Finance Coronavirus Business Interruption Loan Scheme update

Posted: 7th May 2020

Commenting on the latest UK Finance figures (7 May) on the number of firms successfully accessing CBILS, the BCC’s Head of Economics Suren Thiru said:

“Although the steady improvement in the number of firms accessing CBILS is welcome, with many firms only having a few months’ cash in reserve the pace of delivery remains disappointingly slow.

“The strong start made by the Bounce Back loan scheme is encouraging for the smallest businesses that are struggling to stay afloat. However, more needs to be done to ensure that all businesses get access to the finance they need.

“The current template for Bounce Back loans could be used the improve the provision of the CBIL scheme, including adopting an easier and more consistent application process.

“Government must also be ready to further expand the existing grant schemes to ensure that as many businesses as possible get access to the support they need.”

Business Comment

Business Comment is the Edinburgh Chamber of Commerce’s bi-monthly magazine. It provides insight on Edinburgh’s vibrant business community, with features on the city’s key sectors, interviews with leading figures and news on new business developments in the capital.
Read more here