Changes to CBILS




The Chancellor has announced a number of changes to the Coronavirus Business Interruption Loan Scheme after business organisations raised concerns about the personal guarantees and interest rates that borrowers have to agree to. Under the changes, lenders are banned from requesting personal guarantees on loans under £250,000.


All small businesses affected by the coronavirus outbreak, not just those unable to secure regular commercial finance, will also now be eligible to apply for a business interruption loan.


Read more about the changes at: https://www.gov.uk/government/news/chancellor-strengthens-support-on-offer-for-business-as-first-government-backed-loans-reach-firms-in-need


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