Please see below for BBPA response to the Chancellor strengthening support on offer for business as first government-backed loans reach firms in need as per this announcement: https://www.gov.uk/government/news/chancellor-strengthens-support-on-offer-for-business-as-first-government-backed-loans-reach-firms-in-need
Emma McClarkin, Chief Executive of the British Beer & Pub Association, said:
“We welcome the Chancellor’s statement today, bolstering credit lines to businesses affected by the COVID-19 crisis.
“The all-important detail on the support remains to be seen, but if done right it should help out those businesses in the ‘squeezed middle’. The majority of our membership falls into this bracket and so haven’t had access to the support that the Government intended.
“It is a shame that the loans will be at commercial rates meaning successful businesses, through no fault of their own, will be forced to get into more debt due to this crisis. Nonetheless, it is imperative now that the banks take heed of this clear direction from Government and get the cash to businesses as fast as possible ensuring the great British pub industry survives this crisis and is in the best position to reopen in the future.”
For more information, contact Nick Lawrie [email@example.com]