June 9, 2020 / 8:49 AM / a month ago

UK says state-backed COVID loans to companies rise again

LONDON, June 9 (Reuters) - British small businesses have borrowed nearly 24 billion pounds ($30 billion) under a coronavirus credit programme that offers 100% state guarantees for banks providing the loans, more than other, longer-running emergency support schemes.

The Treasury said total lending under the Bounce Back Loan Scheme rose to 23.8 billion pounds by June 7 from 21.3 billion pounds by May 31, a slightly smaller increase than in the previous week.

The separate Coronavirus Business Interruption Loan Scheme, which carries an 80% government guarantee, hit 9.6 billion pounds, up from 8.9 billion pounds a week earlier. ($1 = 0.7923 pounds) (Reporting by William Schomberg, editing by David Milliken)

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