The British Government launched a new loan program to help businesses overcome the crisis caused by the pandemic and avoid layoffs, authorities reported this Monday (04.05.2021).
This is the so-called Recovery Loan Program, which will allow these financial aid to be granted this year and which will be available from this Tuesday.
The plan was released before businesses that sell non-essential products reopen on April 12 due to the control of COVID-19 and the advance of vaccinations.
The owners of cafes, restaurants, hairdressers or gyms will be able to access the new loans guaranteed by the government and the amounts range from 25,000 pounds (20,250 euros) to 10 million pounds (11.7 million euros), according to the Executive.
British Finance Minister Rishi Sunak said today that he will do everything possible to “protect jobs and livelihoods during the pandemic”, adding that this plan will allow businesses access to the finances they need in the face of the crisis.