Bounce Back loans helped companies not just survive but expand

Article summary

Lending via Bounce Back loans has played a role ‘beyond mere survival in the face of the pandemic,’ according to a study. Enterprise Nation and Starling Bank’s research suggests that BBLS has played a role “beyond mere survival in the face of the pandemic.” Enterprise Nation, which provides support and advice to small businesses, surveyed 850 of its members. […] While a third (36%) of SMEs used their BBLS loan to pay their bills, 35% have kept funds in reserve and 27% have used the cash to invest in their business. […] And earlier in October , the government said it fears its could lose as much as £23bn on Bounce Back loans.

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