16 Apr 2020

Loan Scheme Expanded for Large Businesses

The Chancellor announced on 16 April the loan scheme for large businesses affected by coronavirus has been expanded to cover all viable firms.

Outlining further details of the Coronavirus Large Business Interruption Loans Scheme (CLBILS) ahead of its launch on Monday 20 April, Rishi Sunak said all firms with a turnover of more than £45 million will now be able to apply for up to £25 million of finance, and up to £50 million for firms with a turnover of more than £250 million.

The announcement of this scheme complements existing support including the Covid Corporate Financing Facility and the Coronavirus Business Interruption Loan Scheme.

For more information visit https://www.gov.uk/government/news/chancellor-expands-loan-scheme-for-large-businesses