Ben Davey, Barclays Ventures CEO, on the new Bounce Back loan scheme and the government coronavirus business support measures as a whole.
The new microloan scheme announced Monday, will give small firms access to loans entirely backed by the UK government. Businesses can apply for “micro-loans” worth up to 25% of their turnover, up to £50,000.
Davey discusses whether or not the loans will be important for the startup community and what type of businesses they are designed to help.
The loans are part of a larger Covid-19 support package the government has announced over recent weeks for businesses, including the Future Fund. Davey gives his view on that bundle of measures and how the Bounce Back loan fits it in.