imported>Doug Williamson |
imported>Doug Williamson |
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| ''Business continuity - pandemic - UK.'' | | (PBGC). ''US Pensions''. |
| | An organisation set up by the US government to take over the assets and liabilities of insolvent pension funds and to provide limited guarantees as to the payment of pensions by those funds. |
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| (CBILS).
| | The PBGC has wide powers to investigate US pension schemes and their sponsoring companies. |
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| The CBILS will be provided by the UK government owned British Business Bank through participating providers. | | The equivalent in the UK is the Pension Protection Fund. |
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| It will offer 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.
| | == See also == |
| | | * [[Pension Protection Fund]] |
| The CBILS provides 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 will also cover the first 12 months of interest payments, so businesses will 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 will be £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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| ==See also== | |
| *[[British Business Bank]] | |
| *[[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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| *[[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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| *[[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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