Information on loans and liquidity arrangements.
- The Coronavirus Business Interruption Loan Scheme is for SMEs with up to a £41m turnover and will be delivered by 41 lenders through the British Business Bank. Up to £5m is available with the first 12 months interest free.
Any business interested in applying to CBILS should talk to their bank or finance provider (not the British Business Bank) as soon as possible and discuss their business plan with them. This will help the finance provider to act quickly once the Scheme has launched. More information on this can be found here
- A Bounce Back Loans scheme, will provide loans of up to £50,000 available to the smallest businesses affected by the coronavirus pandemic. Find out more and apply here.
- The Coronavirus Large Business Interruption Loan Scheme (CLBILS) will ensure that more firms are able to benefit from government-backed support during this difficult time. It will provide a government guarantee of 80% to enable banks to make loans up to £200 million to firms with an annual turnover of between £45 million and £500 million.
- Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest.
- A number of private lenders are also making funds available to small businesses impacted by COVID-19, including £2 billion from Lloyds Banking Group and £5 billion from NatWest
- An agreement has been made with the Bank of England to supporting liquidity amongst large firms, so they can pay their small suppliers, salaries and rents.
- Other sources of funding and finance can be found on our support finder tool
Case Studies
Tweets
30 October
Are you ready?
The end of the transition period means businesses should take action now to prepare for guaranteed… https://t.co/7uDJC4ElL1
29 October
It's never been more important to focus on growing revenue and our Deep-Dive Workshops on The Applied Psychology of… https://t.co/jqazhpCyuH