News article

Coronavirus Loan Schemes Extended to Further Education Establishments

04/05/2020

The Coronavirus Business Interruption Loan Scheme (CBILS) supports primarily small and medium-sized businesses to access bank lending during the coronavirus outbreak. Those with an annual turnover of up to £45 million can obtain loans, overdrafts, invoice finance and asset finance of up to £5 million over a maximum of six years. Applicants can access the first year of that finance interest free, as the Government is covering the initial 12 months of interest payments. The Government will guarantee 80% of the finance to the lender.