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IFLR’s coronavirus resource
The UK government’s response to helping
businesses through the
ongoing coronavirus pandemic is confusing companies, who
say they do not know how to apply for the loans.
Since the 23 March, UK businesses have been able to access
support through the Coronavirus Business Interruption Loan
Scheme (CBILS). The CBILS is intended to provide financial
support to small businesses across the UK that are losing
revenue and experiencing cash flow disruption as a result of
the Covid-19 outbreak.
The state-owned British Business Bank is offering CBILS via
accredited lenders. At the moment there are more than 40
lenders working to provide the product.
"My impression is that banks are keen to help under these
schemes and are starting to see applications come in, which
will no doubt increase in the coming weeks," said Ashurst
consultant Dave Rome. The scheme...