Tag Archives: CBILS

Coronavirus business loan exceeds £71 billion

UK businesses have now borrowed over £71 billion through the government’s coronavirus business loan schemes, according to figures from HM Treasury. The affected business sectors and areas of the country have altogether accessed to the loans of over 1.5 million. The British Business Bank has also published the regional distribution of loans under the Coronavirus […]

Furlough scheme extended until end of April 2021

UK Chancellor has extended the furlough Scheme (Coronavirus Job Retention Scheme) until the end of April 2021. The government will continue to contribute 80% towards wages of employees’ salaries for hours not worked until the end of April. Employers will only be required to pay wages, national insurance contributions (NICs) and pensions for hours worked, […]

New state-backed SME loan scheme

The UK government is planning to replace existing the £65bn Covid loans programme with a permanent state-backed SME loan scheme. The new scheme will support lending by banks to a broad range of small to medium-sized business. Under the plans, the government would guarantee 80 per cent of loans to small businesses. The business could […]

CBILS applications predicted to rise

The experts have predicted a rise in the number of CBILS applications. The government’s Coronavirus Business Interruption Loan Scheme (CBILS) supports small businesses that have lost capital due to covid-19 outbreak. The finance lender MarketFinance recently surveyed 5,000 UK companies, employers with a minimum turnover of £250,000. The lender conducted the study in November 2020 […]

Coronavirus Loan Schemes:UK businesses have borrowed over £46 billion

UK businesses have now borrowed over £46 billion through the government-backed coronavirus loan schemes. These schemes are helping firms during the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury. In total, £46.3 billion has now been lent to over 1.1 million businesses through the following schemes: Bounce Back Loan Scheme (BBLS) Coronavirus […]

Chancellor expands loan scheme for large businesses

The chancellor has expanded the government-backed Coronavirus Large Business Interruption Loan Scheme to cover all viable firms. Ahead of the scheme’s launch on Monday (April 20), Sunak unveils the final details of Coronavirus Large Business Interruption Loan Scheme. Who is eligible for the Coronavirus Large Business Loan Scheme? all viable businesses with turnover of more […]

Business Groups’ Reaction on CBILS

  Business groups, including CBI, FSB, BCC showed their reaction to the Chancellor’s announcement of the expansion of the Coronavirus Business Interruption Loan Scheme (CBILS). The Chancellor announced that the CBILS has been extended ‘so more small businesses can benefit’, and not just those unable to secure regular commercial financing. Additionally, Mr Sunak announced a […]