Coronavirus Business Interruption Loan
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Government to launch £3bn recovery loan scheme
Replacement recovery loan scheme will offer loans of up to £2m to businesses, backed by a 70% government guarantee in event of default. But small business owners will have to offer personal guarantees first
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Sunak announces new ‘fraud squad’ to target Covid losses
The government has announced a new £25m taskforce to recover money lost to fraud from the Covid-19 emergency loan schemes
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Businesses struggling to repay £20bn of Covid loans
Accountancy firm Azets says businesses struggling to repay Covid-19 debt may default on £20bn of Covid loans, on top of the £4bn worth of fraud the Government already predicts