Business Interruption Loan Scheme in response to COVID-19
Last week we published an overview of the £350 billion package unveiled by the government to provide support for UK businesses in response to the Coronavirus pandemic. One of these measures is the Coronavirus Business Interruption Loan Scheme (CBILS) which went live on 23 March 2020 and provides loans for smaller businesses facilitated by the British Business Bank. We examine some of the key features of the Scheme and some practical suggestions if you are considering applying. What are the key features of the scheme? It is important to note that applicants would still make applications through their preferred finance provider, …
