April 5th, 2022.

The Government could support small business loans from banks indefinitely, extending the previous Covid financial support schemes.

Government officials are in talks with banks exploring ways Treasury-guaranteed small business loans could become a permanent feature, according to the Financial Times

Over the course of the pandemic, £79,3bn business loans were made through Covid-19 financial support.
One person close to the talks told the newspaper that the focus is on supporting businesses to grow rather than just survive the pandemic or the current energy crisis.

“There is definite need for a permanent follow-up,” said a banking executive who had seen the questionnaire Government sent out to bank officials.

Among the questions asked is what level to set the Treasury guarantee (the £44bn Bounce Back Loan scheme had a 100 per cent guarantee, while the Coronavirus Business Interruption Loan Scheme was 80 per cent covered), whether personal guarantees would be needed, and what sort of companies should be eligible.

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