Coronavirus Large Business Interruption Loan Scheme: Difference between revisions

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imported>Doug Williamson
(Update for upper limits.)
imported>Doug Williamson
(Update for Recovery Loan Scheme. Source: ACT blog https://www.treasurers.org/hub/blog/covid-19-march-2021)
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(CLBILS).
(CLBILS).


The CLBILS is designed to provide UK government guarantees of 80% to enable banks to make loans of up to £200m, offered to medium and large sized firms with a turnover of over £45m per annum that have been impacted by COVID-19 who are unable to secure regular commercial financing.
The CLBILS was designed to provide UK government guarantees of 80% to enable banks to make loans of up to £200m, offered to medium and large sized firms with a turnover of over £45m per annum that were impacted by COVID-19 and were unable to secure regular commercial financing.




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::(b) believes will enable the borrower to trade out of any short-term to medium-term difficulty.
::(b) believes will enable the borrower to trade out of any short-term to medium-term difficulty.
For new borrowings from April 2021 onward, CLBILS is superseded by the Recovery Loan Scheme (RLS).




Revision as of 09:18, 11 March 2021

COVID-19 - business continuity - UK.

(CLBILS).

The CLBILS was designed to provide UK government guarantees of 80% to enable banks to make loans of up to £200m, offered to medium and large sized firms with a turnover of over £45m per annum that were impacted by COVID-19 and were unable to secure regular commercial financing.


To be eligible, a business must:

  1. Be UK-based in its business activity.
  2. Have an annual turnover over £45 million.
  3. Be unable to secure regular commercial financing.
  4. Have a borrowing proposal which the lender:
(a) would consider viable, were it not for the COVID-19 pandemic; and
(b) believes will enable the borrower to trade out of any short-term to medium-term difficulty.


For new borrowings from April 2021 onward, CLBILS is superseded by the Recovery Loan Scheme (RLS).


See also


Resources for COVID-19

ACT technical - COVID-19

UK government: support for businesses

UK government: COVID-19 support hub

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