Forces Recruitment Solutions

Ex-Military Recruitment Specialists

Tel: 01353 645004


News

Image for Coronavirus Business Interruption Loan Scheme

Apr 14, 2020

Coronavirus Business Interruption Loan Scheme


The Coronavirus Business Interruption Loan Scheme supports small and medium-sized businesses, with an annual turnover of up to £45 million, to access loans, overdrafts, invoice finance and asset finance of up to £5 million for up to 6 years...

The government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees. This means smaller businesses will benefit from no upfront costs and lower initial repayments.

The government will provide lenders with a guarantee of 80% on each loan (subject to pre-lender cap on claims) to give lenders further confidence in continuing to provide finance to small and medium-sized businesses.

The scheme is delivered through commercial lenders, backed by the government-owned British Business Bank. There are 40 accredited lenders able to offer the scheme, including all the major banks.

You’re eligible if your business:

  • is based in the UK
  • has an annual turnover of up to £45 million
  • has a borrowing proposal which the lender would consider viable, if not for the coronavirus pandemic

Businesses with a turnover over £45 million may be entitled to other government support.

Learn more and apply here.

 

Read more news stories

Contact

FRS HQ

Address:

Forces Recruitment Solutions Group Ltd
Unit 1H Grovemere House
RAF Witchford Museum
Lancaster Way Business Park

Ely
CB6 3NW

FRS on Twitter


Through the Forces Recruitment Solutions Business Support Bulletin we share insights and information on the topics… https://t.co/QzHGA6AuR7

1 day ago from Hootsuite Inc.



Signup For Our Newsletter!

Get resettlement and career change advice from the experts direct to your inbox!