A government pledge to pressure banks into supporting more small businesses during the crisis has been welcomed by the Pet Product Retail Association parent body Bira.
Business Secretary Alok Sharma called on high street lenders to ease access to the Coronavirus Business Interruption Loans Scheme for small independent retailers during the crisis.
His intervention on April 1 came following reports from some businesses – including many Bira members – that their banks were making it increasingly difficult to access the recently created loan scheme.
Earlier this week, an exclusive Bira members’ survey revealed that of those who had applied for the CBILS, only 1% had so far been successful, while many were still awaiting a response.
Mr Sharma has also urged local authorities to speed up the availability of grant money for small businesses.
Andrew Goodacre, the British Independent Retail Association (Bira) CEO, said: “We were shocked and disappointed that so few of our members had been able to access the money available to them when they are so desperately in need.
“We called on the Government to take action and in the Business Secretary’s statement, it shows they are listening to Bira.
“We will continue to lobby the Government, the banks and the local authorities to make pledged cash quickly and easily available for our members and the wider independent retail community.”
Bira’s new, dedicated coronavirus hub is being updated every day throughout the day, with information for members and the independent retail community through the crisis.
