Coronavirus: Government Financial Support For Organisations

In response to feedback from business leaders the Chancellor has extended further support to businesses facing difficulties arising from the coronavirus (COVID-19) disruption. With effect from 20 April, the larger CBILS facility (CLBILS) opened for businesses turning over more than £45 million.

Funding will be available of up to £25 million for businesses turning over up to £250 million.

For those businesses turning over more than £250 million, funding is available up to £50 million. The maximum term under CLBILS is three years.

More recently, the government announced that from 4 May micro businesses seeking up to £50,000 of funding can benefit from a Bounce Back Loan Scheme (BBLS), backed by 100% government guarantee.

The support measures include:

There may be other funding solutions for businesses available through your current or an alternative provider. Crowe’s debt advisory team have strong relationships with a wide range of potential funders, for more details on how we can support you please contact Geert Struyven, Partner at Crowe on 01892 700200 .

Read all our insights on COVID-19: Managing the impact by visiting our hub.

View our COVID-19 related webinars

Leave a Reply

Your email address will not be published. Required fields are marked *