Coronavirus Business Interruption Loan Schemes
*Update: 05/11/2020 – Bounce Back Loan, Coronavirus Business Interruption Loan, Future Fund and Coronavirus Large Business Interruption Loan Scheme application deadlines are extended to the end of January 2021*
These schemes provide lenders with a government backed guarantee on business finance products.
SMES’s can borrow 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
The Coronavirus Large Business Interruption Loan Scheme
The Coronavirus Business Interruption Loan scheme was extended to include larger businesses on 16/04/2020.
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.
Page updated 05/11/2020