The company needs a cash injection.

****THIS PAGE IS IN PROGRESS - MORE INFORMATION BEING ADDED AS IT BECOMES AVAILABLE.****

CBILS (Coronavirus Business Interruption Loan Scheme):

Key points:

  • Available now.

  • Available to:

    • small/medium sized UK businesses

    • turnover up to £45 million

    • viable borrowing proposal if not for Coronavirus

    • self-certify that the business has been adversely impacted by Coronavirus

    • were not an ‘undertaking in difficulty’ on 31.12.19

  • Loan amounts up to £5 million for up to 6 years

  • The government will guarantee 80% of the loan

  • The government pays the first 12m of interest

Bounce Back Loan:

Key points:

  • Available from 4th May 2020.

  • Available to:

    • small/medium sized UK businesses

    • negatively effected by Coronavirus

    • were not an ‘undertaking in difficulty’ on 31.12.19

  • Loan amounts between £2,000 and £50,000

  • The government will guarantee 100% of the loan

  • The government pays the first 12m of interest

  • If you’ve already received a loan of up to £50k through CBILS, this can be switched to Bounce Back until 4th November 2020