BUSINESSES are struggling to repay Bounce Back Loans (BBLs) five years after the pandemic, a Bournemouth-based insolvency practitioner has said.
These loans, introduced by the Government in May 2020, were crucial for many during the Covid 19 crisis.
However, for some, the repayment journey has been tough.
Elaine Wilkins, director at Antony Batty and Company Licensed Insolvency Practitioners, said: “The Bounce Back Loan scheme was a vital support during the pandemic, but five years on, we are seeing many local businesses struggling to meet repayment obligations.”
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Government data shows more than 1.4 million businesses borrowed a total of £46 billion through the BBL…
