Chancellor expands loan scheme to cover larger businesses

Rishi Sunak has today announced that the Coronavirus Large Business Interruption Loan Scheme (CLBILS) has been expanded to include all viable businesses with a turnover of more than £45 million.

The UK Government-backed loan scheme for large businesses affected by Coronavirus, set to launch on Monday, will now be available to firms with a turnover of more than £250 million, enabling them to borrow up to £50 million from lenders.

This complements existing support including the COVID-19 Corporate Financing Facility and the Coronavirus Business Interruption Loan Scheme.

More information about each of these schemes can be found on our COVID-19: Support for UK businesses hub.

If you need help to access any of these support measures, or require assistance in managing your personal finances or your business, please contact your usual Beavis Morgan Client Partner or email info@beavismorgan.com.

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