Changes to Coronavirus Business Interruption Scheme - Announced

Andrew has welcomed changes to the Coronavirus Business Interruption Scheme which mean that even more businesses and individuals can now access the funding they need, changes to the scheme include, 

- all viable small businesses that have been impacted by COVID-19 can now benefit (rather than just those that couldn’t access commercial finance)

- no personal guarantees for loans below £250,000

- personal guarantees for loans above £250,000 limited to the 20% of the loan which isn’t guaranteed by Govt

- operational changes to speed up the processing of applications, particularly those for smaller loans

More information and application details can be found here, http://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils-2/for-businesses-and-advisors/