Coronavirus - support for businesses and employers
Coronavirus Business Interruption Loan Scheme
This scheme supports small and medium-sized businesses with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years. The Government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees.
The government will provide lenders with a guarantee of 80% on each loan and the scheme will be delivered through commercial lenders, backed by government-owned British Business Bank.
There are 40 accredited lenders able to offer the scheme, including all the major banks. Locally, Merseyside Special Investment Fund will be managing the delivery of the scheme which is expected to go live shortly