Coronavirus Large Business Interruption Loan Scheme: Difference between revisions
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imported>Doug Williamson (Update for Recovery Loan Scheme. Source: ACT blog https://www.treasurers.org/hub/blog/covid-19-march-2021) |
imported>Doug Williamson (Update.) |
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To be eligible, a business | To be eligible, a business had to: | ||
#Be UK-based in its business activity. | #Be UK-based in its business activity. | ||
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::(a) would consider viable, were it not for the COVID-19 pandemic; and | ::(a) would consider viable, were it not for the COVID-19 pandemic; and | ||
::(b) | ::(b) believed will enable the borrower to trade out of any short-term to medium-term difficulty. | ||
For new borrowings from April 2021 onward, CLBILS | For new borrowings from April 2021 onward, CLBILS was superseded by the Recovery Loan Scheme (RLS). | ||
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*[[Business continuity plan]] | *[[Business continuity plan]] | ||
*[[Contingency plan]] | *[[Contingency plan]] | ||
*[[Coronavirus]] | *[[Coronavirus]] | ||
*[[Coronavirus Business Interruption Loan Scheme]] | *[[Coronavirus Business Interruption Loan Scheme]] | ||
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*[[Financial stability]] | *[[Financial stability]] | ||
*[[Liquidity management]] | *[[Liquidity management]] | ||
*[[Recovery Loan Scheme]] (RLS) | |||
*[[Stranded middle]] | *[[Stranded middle]] | ||
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[https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses UK government: support for businesses] | [https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses UK government: support for businesses] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 21:24, 30 December 2022
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 had to:
- Be UK-based in its business activity.
- Have an annual turnover over £45 million.
- Be unable to secure regular commercial financing.
- Have a borrowing proposal which the lender:
- (a) would consider viable, were it not for the COVID-19 pandemic; and
- (b) believed will enable the borrower to trade out of any short-term to medium-term difficulty.
For new borrowings from April 2021 onward, CLBILS was superseded by the Recovery Loan Scheme (RLS).
See also
- Bounce Back Loan Scheme
- British Business Bank
- Business continuity plan
- Contingency plan
- Coronavirus
- Coronavirus Business Interruption Loan Scheme
- Coronavirus Job Retention Scheme
- COVID-19
- COVID-19 Corporate Financing Facility
- Disaster recovery planning
- Financial stability
- Liquidity management
- Recovery Loan Scheme (RLS)
- Stranded middle
