“The initiative by the banks to assist small businesses though the current crisis is very welcome. Deferral of loan repayments for six months will give many businesses vital extra room to move,” Chief Executive of the national employer association Ai Group, Innes Willox, said.
“As much as can be done to keep small businesses operating and employing people should be done. Deferring loan repayments will make a material difference to small businesses in the months ahead and will help them stay afloat and employing people.
“The benefits that will flow from this initiative go well beyond the small business sector itself as these businesses are often important links in supply chains across the economy,” Mr Willox said.
Source: Ai Group