Gov UK Update: Coronavirus Business Interruption Loan Scheme (CBILS )
April 6, 2020Following difficulties with the implementation of the Coronavirus Business Interruption Loan Scheme (CBILS ), the government has today revamped its criteria.
The relevant links are shown below. This should allow SMEs easier access to funding. In particular, banks are now prohibited from asking directors to provide personal guarantees for loans under £250,000 and applications are no longer limited to businesses that have been refused a loan on commercial terms.