Greg Clark, the Secretary of State for Business, Energy and Industrial Strategy, has announced that there will be £100 million of lending made available to smaller businesses adversely affected by the liquidation of Carillion. The money is being funded by the British Business Bank, which is wholly owned by the Government, in conjunction with high street lenders.
Clark said in a statement:
“We want to signal very clearly to small and medium sized businesses who were owed money by Carillion that they will be supported to continue trading. The banks have responded to my request by agreeing to support businesses and individuals affected. This further guarantee will help those businesses who may not be able to provide the usual security for a loan. I will continue to work closely with business organisations, trade unions and banks to actively support those affected by Carillion’s insolvency”.