Friday, 25 September 2020
New deadlines for coronavirus business interruption loan applications
New deadlines have been announced for the Government's three coronavirus business interruption loan schemes after they were extended.
Applications for the Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS) and Bounce Back Loan Scheme (BBLS) - as well as the Future Fund - will now all end on 30 November.
As the schemes had all been launched on different dates, they all initially had varying deadlines of 30 September (CBILS and FUture Fund), 20 October (CLBILS) and 4 November (BBLS).
But in yesterday's Winter Economic Plan announcement, Chancellor Rishi Sunak said the extensions would provide further support for those who need it.
Repayments will be also be more flexible on the new "pay as you grow" scheme.
Further information on the four schemes is available on the British Business Bank website.
Information for investors, companies and solicitors regarding the closure of the Future Fund will be published on the British Business Bank website and the Future Fund portal.Back