Coronavirus - support for businesses and employers
Coronavirus Large Business Interruption Loan Scheme
The scheme will provide a government guarantee of 80% to to all viable large businesses with an annual turnover of more than £45m.
Up to £25m is available to firms with a turnover of more than £45m and up to £50m is available for firms with a turnover of more than £250m. This includes businesses with a turnover of more than £500m, which were previously ineligible.
The new scheme will launch later on in April and will support a wide range of businesses to access finance products including short term loans, overdrafts, invoice finance and assets finances. Facilities backed by a guarantee under CLBILS will be offered at commercial rates of interest.
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 and this is expected to go live shortly.