COVID-19: Coronavirus Business Interruption Loan Scheme
The new Coronavirus Business Interruption Loan Scheme supports small to medium sized enterprises with access to working capital (including loans, overdrafts, invoice finance and asset finance) of up to £5 million in value and for up to 6 years.
The full rules of the scheme and the list of accredited lenders are available on the British Business Bank website.
How to access the scheme
The scheme is now open for applications. To apply, you should talk to your bank or one of the 40 accredited finance providers (not the British Business Bank) as soon as possible, to discuss your business plan. You can find out the latest on the best ways to contact them via their websites.
All major banks are offering this scheme. If you have an existing loan with monthly repayments you may want to ask for a repayment holiday to help with cash flow.