APSCo reveals recruiters unclear how to access new CBIL loan

A third of recruiters are uncertain how to access the government-backed Coronavirus Business Interruption Loan (CBIL).

One in three recruiters surveyed by the Association of Professional Staffing Companies (APSCo), who felt they could benefit from CBILs, claim they do not know how to access it; find the criteria prohibitive or the process too complicated and difficult.

The findings, released this morning, also reveal hiring is at a near standstill, with 22% of recruitment firms reporting that permanent hiring is at zero and almost half (47%) reporting a decrease in hiring activity of 90%.

Meanwhile, two-thirds of recruitment firms have had up to 25% of their contractors terminated in the last week; 15% have had up to 50% terminated; and 17% have had up to 100% terminated.

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