{"id":81,"date":"2020-04-09T12:25:42","date_gmt":"2020-04-09T11:25:42","guid":{"rendered":"https:\/\/www.robertbrucefp.com\/blog\/?p=81"},"modified":"2020-04-09T12:25:42","modified_gmt":"2020-04-09T11:25:42","slug":"coronavirus-large-business-interruption-loan-scheme","status":"publish","type":"post","link":"https:\/\/www.robertbrucefp.com\/blog\/?p=81","title":{"rendered":"Coronavirus Large Business Interruption Loan Scheme"},"content":{"rendered":"<p><strong>Government guarantee is to enable more \u2018no\u2019 decisions to become \u2018yes\u2019 outcomes<\/strong><\/p>\n<p>This is a loan scheme that has been set up to help large businesses that are struggling with cash flow due to revenues being deferred or lost due to coronavirus.<\/p>\n<p>To be eligible, businesses need to have an annual turnover between \u00a345 million and \u00a3500 million, and business activity has to be based in the UK.<\/p>\n<p><!--more--><\/p>\n<p>The scheme is open to businesses that have been affected by coronavirus and can\u2019t secure regular commercial funding.<\/p>\n<p>Companies from all sectors can apply for the Coronavirus Large Business Interruption Loan Scheme. However, there are some exclusions.<\/p>\n<p>Banks can offer eligible large businesses loans of up to \u00a325 million, which are backed by an 80% guarantee from the Government.<\/p>\n<p>Lenders will carry out the usual credit risk checks. However, the aim of the government guarantee is to enable more \u2018no\u2019 decisions to become \u2018yes\u2019 outcomes.<\/p>\n<p>Short-term loans, overdrafts, invoice finance and asset finance are the products included in the scheme, and will be offered at commercial rates of interest.<\/p>\n<p>If your business is eligible, you will be able to access the Coronavirus Large Business Interruption Loan Scheme by the end of April 2020. A list of approved lenders will be provided by the British Business Bank.<\/p>\n<p>To access the funding, you need to confirm your business turnover is between \u00a345 million and \u00a3500 million. You must provide a borrowing proposal that would be considered\u00a0viable by the lender if the coronavirus disruption was taken out of the equation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government guarantee is to enable more \u2018no\u2019 decisions to become \u2018yes\u2019 outcomes This is a loan scheme that has been set up to help large businesses that are struggling with cash flow due to revenues being deferred or lost due to coronavirus. To be eligible, businesses need to have an annual turnover between \u00a345 million &hellip; <a href=\"https:\/\/www.robertbrucefp.com\/blog\/?p=81\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Coronavirus Large Business Interruption Loan Scheme&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/81"}],"collection":[{"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=81"}],"version-history":[{"count":1,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/81\/revisions"}],"predecessor-version":[{"id":82,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/81\/revisions\/82"}],"wp:attachment":[{"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=81"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=81"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=81"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}