- Specialist finance provider to small businesses 1pm said it had been approved to participate in the UK government's coronavirus business interruption loan scheme.

1pm said it was in the process of determining the amount of funding it expected to be able to deploy.

It said tapping the scheme would allow it to expand its lending in the form of leases and loans to UK small business customers impacted by the pandemic.

1pm said it had also used the government's coronavirus job retention scheme and furloughed about one-third of its 184-strong workforce.

'We are delighted to have been approved to become an accredited partner to the UK government's lending programme helping us to deliver additional funding to UK small businesses when they need it most,' chief executive James Roberts said.

'Small businesses are the lifeblood of the UK economy and 1pm is pleased to be able to assist where we can during this critical time.'

At 8:51am: [LON:OPM] 1pm PLC share price was +1.5p at 17.25p

Story provided by