imported>Doug Williamson |
imported>Doug Williamson |
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| ''COVID-19 - business continuity - UK.''
| | A method of accounting for an associated undertaking in a group of companies. |
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| (CBILS). | | The purpose is to include in the consolidated group accounts: (1) the cost of the investment plus (2) the appropriate proportionate share of post-acquisition profits. |
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| The CBILS was provided by the UK government owned British Business Bank through participating providers.
| | == See also == |
| | * [[Associated undertaking]] |
| | * [[Consolidated group accounts]] |
| | * [[Consolidation]] |
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| It offered more attractive terms for both businesses applying for new facilities and lenders, with the aim of supporting the continued provision of finance to UK businesses during the Covid-19 outbreak.
| | [[Category:Accounting,_tax_and_regulation]] |
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| The CBILS provided the lender with a UK government-backed guarantee against the outstanding facility balance, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.
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| The UK government also pays the first 12 months of interest payments, enabling businesses to benefit from lower initial repayments. The business remains liable for repayments of the capital.
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| The maximum value of a facility provided under the scheme was £5 million.
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| CBILS supported a wide range of business finance products, including:
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| *Term facilities
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| *Overdrafts
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| *Invoice finance facilities
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| *Asset finance facilities
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| To be eligible for support via CBILS, the small business must:
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| *Be UK based, with annual turnover of no more than £45 million.
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| *Operate within an eligible industrial sector.
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| *Be unable to meet a lender’s normal lending requirements for a fully commercial loan or other facility, but would be considered viable in the longer-term.
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| For new borrowings from April 2021 onward, CBILS is superseded by the Recovery Loan Scheme (RLS).
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| ==See also==
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| * [[Bounce Back Loan Scheme]]
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| *[[British Business Bank]]
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| *[[Business continuity plan]]
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| *[[Contingency plan]]
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| *[[Coronavirus]]
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| *[[Coronavirus Job Retention Scheme]]
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| *[[Coronavirus Large Business Interruption Loan Scheme]]
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| *[[COVID-19 Corporate Financing Facility]]
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| *[[Disaster recovery planning]]
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| *[[Financial stability]]
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| *[[Liquidity management]]
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| * [[Recovery Loan Scheme]]
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| *[[Stranded middle]]
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| ==Resources for COVID-19==
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| [https://www.treasurers.org/hub/technical/covid19 ACT technical - COVID-19]
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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]
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| [https://www.gov.uk/coronavirus UK government: COVID-19 support hub]
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| [[Category:The_business_context]] | |
| [[Category:Corporate_finance]]
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| [[Category:Investment]]
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| [[Category:Long_term_funding]]
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