Coronavirus: Business Interruption Loan Scheme
Announced in the 2020 Budget, the Coronavirus Business Interruption Loan Scheme (CBILS) supports the continued provision of finance to UK Small and Medium Entity businesses (SMEs) during the Covid-19 outbreak. The scheme went live on Monday 23 March and will initially run for six months.
The scheme is designed to support SMEs who don’t meet a lender’s normal lending requirements for a fully commercial loan or other facility, but whose borrowing proposal would be considered viable were it not for the COVID-19 pandemic, and for which the lender believes the provision of finance will enable the business to trade out of any short-to-medium term difficulty caused by COVID-19.
Read our fact sheet for more details on the scheme. For further information or advice on Coronavirus, visit our dedicated hub or call us on 01903 234094.