While the UK may be in lockdown, that does not mean that life cannot continue and the business world must stop, if anything it is even more important now that we continue to press on with business transactions and embrace technology to help us do this.
On 24 April 2020 UK Finance released the first of its weekly updates regarding the CBILS scheme. In this updated blog post we have a look at these figures, how the scheme has operated to date and some possible changes to come.
The new COVID-19 Business Interruption Loans (CBIL) scheme can provide facilities of up to £50 million to small businesses who are struggling financially as a result of the COVID-19 pandemic.
In any economic downturn banks will look very closely at their customers’ performances and in particular their customers’ loan covenants.
Viable companies are experiencing unprecedented financial difficulties as a result of the continuing outbreak of COVID-19.
