COVID-19: National Audit Office warns up to 60 per cent of Bounce Back Loans may not be paid back

The Government’s spending watchdog, the National Audit Office (NAO), has warned that up to 60 per cent of businesses may not pay back the 100 per cent Government-backed Bounce Back Loans Scheme (BBLS) because of fraudulent applications and minimal credit checks.

SMEs are missing out on £1.5 billion worth of COVID-19 Government support grants

According to the latest research, small to medium-sized enterprises (SMEs) are missing out on almost £1.5 billion in coronavirus business support grants, which have gone unclaimed ahead of the deadline on Friday 28 August.