Coronavirus Business Interruption Loan Scheme Announcement
At Budget 2020, the Chancellor announced that a ‘Coronavirus Business Interruption Loan Scheme’ (CBILS) will temporarily replace the Enterprise Finance Guarantee (EFG), becoming available over the coming weeks.
It will operate in a similar way to EFG and be provided by the British Business Bank, but will offer more attractive terms for both businesses and lenders, with the aim of supporting the continued provision of finance to UK businesses during the Covid-19 outbreak.
As well as loans, there are many other types of finance supported by the programme, depending on the provider. Wattsford Commercial Finance work will all the finance providers on the scheme and are able to help you to access it.
