June 2, 2020 / 8:56 AM / a month ago

UK lends 21 billion pounds to small firms hit by coronavirus

British five pound banknotes are seen in this picture illustration taken November 14, 2017. REUTERS/ Benoit Tessier/Illustration

LONDON (Reuters) - British small businesses have borrowed more than 21 billion pounds ($26 billion) under a government-guaranteed coronavirus programme in May, well ahead of other support schemes.

The Treasury said lending under the Bounce Back Loan Scheme had risen to 21.3 billion pounds by May 31, up from 18.5 billion pounds on May 24.

The Coronavirus Business Interruption Loan Scheme hit 8.9 billion pounds by May 31, from 8.15 billion pounds the week before.

($1 = 0.7979 pounds)

Reporting by Kate Holton and Guy Faulconbridge; editing by Sarah Young

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