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Further to our previous briefing, the Government, on Friday, announced changes to the Coronavirus Business Interruption Loan Scheme (CBILS) to make the scheme more accessible to SME businesses.
In addition, they have announced that a scheme for mid-market businesses, the Coronavirus Large Business Interruption Loan Scheme (CLBILS), is being established with further details to follow later this month. This update looks at the changes made to the CBILS and what we know about the CLBILS so far.
Please note: this update summarises the position as of this morning, Monday 6 April 2020. Further details and guidance may be released after the date of the briefing. We will continue to provide updates as further information is released.
Please do not hesitate to contact us if you require support in accessing the CBILS and we look forward to keeping our clients updated on the requirements for the CLBILS, and guiding them through that process, once further details are announced.