Last updated 1 June 2020
The British Business Bank has released additional details of its proposed ‘CLBILS’ funding scheme, aimed at medium to large businesses impacted by COVID-19. These revisions will be welcomed by a number of businesses, including those generating greater than £500 million revenue or PE-backed businesses, who may previously have been unable to access government funding schemes. Borrowers will need to approach accredited lenders with a well-structured request to improve their prospects of a successful and timely outcome.
N.B. The Government has announced a series of other financial support packages to help businesses (e.g. CCFF, Job Retention Scheme, business rate relief, grants etc.). Visit our COVID-19 homepage or go to www.gov.uk for further details.
Further details can be found at British Business Bank's website here.