imported>Doug Williamson |
imported>Administrator |
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| ''COVID-19 - business continuity - UK.'' | | ''Law.'' |
| | 'No-one can give what he has not got.' |
| | The general legal rule that a person who does not own property cannot confer it on another, except with the true owner's authority (for example as the true owner's agent). |
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| (CBILS).
| | There are also a small number of exceptions to this general principle. |
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| The CBILS is provided by the UK government owned British Business Bank through participating providers.
| | == See also == |
| | * [[Advising bank]] |
| | * [[Issuing bank]] |
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| It offers 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.
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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 is £5 million.
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| CBILS supports 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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| *[[COPD]]
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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]]
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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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| *[[Stranded middle]]
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| *[[WFH]]
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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]]
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| [[Category:Corporate_finance]]
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| [[Category:Investment]]
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| [[Category:Long_term_funding]]
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