Sector Regulation Sector Regulation

UK banks get full government guarantee for Covid-19 emergency loans to SMEs

By Fiona Maxwell
  • 27 Apr 2020 11:39
  • 27 Apr 2020 11:39

To help UK banks speed up emergency Covid-19 loans to small businesses, the government will fully guarantee that credit and allow lenders to expedite credit assessments of applicants, finance minister Rishi Sunak said today.

The new "bounce-back loan scheme" provides credit of up to 25 percent of turnover to SMEs,

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Fiona Maxwell

Senior Correspondent

Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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