Thirty per cent of Covid loans rejected
The Construction Leadership Council’s Covid-19 Taskforce survey has revealed that around 30 per cent of applications for Government-supported loans have been rejected so far. Just 12 per cent of applications have been approved, and 58 per cent of firms are still awaiting a decision.
CLC joint chair Andy Mitchell said in a statement: “The Government has done an astonishing job putting in place ground-breaking financial support to UK businesses in very short order.
“We want to help make sure this vital support makes its way into the industry, providing short-term liquidity as companies get back to work after the Covid-19 crisis. We hope to work with the Government and lenders to make sure this happens.”