Coronavirus Business Interruption Loan Scheme
This scheme provides lenders with a government-backed guarantee on business finance products up to £5m, including term loans, overdrafts, invoice finance and asset finance facilities. Read advice on applying for a Business Interruption Loan if you’re a small to medium sized business here.
Smaller businesses from all sectors can apply for the full amount of the facility and must be:
- UK-based with a turnover of no more than £45m per year
- Have a proposal which would be considered viable by the lender
It was announced on 16/04/2020 that the loan scheme had been extended and that larger businesses can now apply. All firms with a turnover of more than £45 million will now be able to apply for up to £25 million of finance, and up to £200 million for firms with a turnover of more than £250 million.
Read the original article detailing the introduction of large businesses into the scheme here.
Read the update from 19/05/2020 which extended the limit from £50 million to £200 million for firms with a turnover of more than £250 million.
Page updated 20/05/2020