Coronavirus Business Interruption Loan Scheme
We wanted to share some further information which has been provided by the Government and some banks regarding the Coronavirus Business Interruption Loan Scheme.
The key points are:
- Loans are available from £25,001 to £5m
- Available from 1-6 years
- No interest is Payable for 12 Months
- Capital Repayment Holidays are available for 12 months as well – so some clients will have no payments to make in the first year
- Loans are limited to 25% of the business’ turnover in 2019, or double the annual wage bill
NB These criteria may vary from one lender to another.