Following recent Government announcements relating to the development of a loan scheme to support businesses through the current turmoil, today the Government has today formally announced that the Coronavirus Business Interruption Loan Scheme (CBILS) is now available through participating lenders.  We set out below our current (as of 23rd March 2020) understanding of the Scheme to try to assist you to understand what it might mean for your business.

This scheme is just one of a number of measures announced by Government and we would advise the reader to use the Government website below to monitor the full list of reliefs and grants available to the business owner at this time, which is being updated on a daily basis:

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

You can sign up for regular updates upon announcements on the link below:

https://www.gov.uk/email-signup?link=/government/topical-events/coronavirus-covid-19-uk-government-response

 

  1. What is the Coronavirus Business Interruption Loan Scheme (CBILS)?

 

  1. Am I Eligible?

 

  1. So What Is Available? – Key Features 

 

  1. How Can I Access The Scheme?

https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/

 

  1. What Do I Need To Do Now?