Coronavirus business loans double, but only half approved

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Banks have agreed less than half of applications made under the government’s Coronavirus Business Interruption Loan Scheme (CBILS).

While £2.8bn of loans have been agreed compared with the £1.1bn approved up to last week, banks are wading through a large backlog.

Only 16,624 applications have been approved out of 36,000.

Many small firms have told the BBC they…

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