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Coronavirus Business Interruption Loan

Articles and news on the Coronavirus Business Interruption Loan Scheme (CBILS), which was designed to provide financial support to smaller businesses across the UK that were losing revenue.

Business Loans

Small businesses have average of just £9,000 left from Bounce Back Loan

Majority of small businesses expect what’s left from their COVID-19 Bounce Back Loans to run out by end of September

Business Loans

Small businesses should ‘only repay coronavirus debt once back in profit’

Centre-right thinktank Onward argues that HMRC could add debt repayment surcharge to tax owing on profitable businesses, leaving the rest untouched

Business Loans

Banks ‘will be pushed’ into closing down SMEs unable to repay Covid debt

Treasury turns deaf ear to setting up bad Covid debt bank, pushing banks into foreclosing on SMEs unable to repay government loans

Business Loans

City grandees call for small business Covid debt to be turned into tax owing

Government should convert £35bn worth COVID-19 debt gone bad into tax owing to save nearly 800,000 SMEs from going under, say 200 financial experts.

News

Forgive all small businesses coronavirus debt, urges George Osborne

George Osborne tells Treasury select committee that Government should eventually write off all debt lent to small and micro businesses during Covid-19 crisis

Business management

7 ways to help your Coronavirus Business Interruption Loan get approved

Mark Perrin of Menzies LLP explains how you can heighten your chances of your Coronavirus Business Interruption Loan being approved

Small Business Banking

State could take equity in small businesses, suggests Lloyds chairman

Lord Blackwell, chairman of Lloyds, says government could convert bad coronavirus emergency loan debt into equity, giving it stakes in thousands of small businesses

Business Loans

Only one in nine coronavirus emergency business loans are approved

Just 13% of firms who have applied for a Coronavirus Business Interruption Loan have been successful, according to latest British Chambers of Commerce survey

Small Business Banking

Fintechs giving up on joining coronavirus emergency loan scheme

New breed of fintechs becoming disenchanted with ever joining the Coronavirus Business Interruption Loan Scheme, despite British Business Bank adding four more lenders

News

Support for tourism, hospitality needs to be extended, says Ed Milliband

Shadow business secretary Ed Milliband says business support for travel, tourism and hospitality needs to go further as they will have to wait longest to reopen

Financing

Rishi Sunak eyes offering 100% guaranteed loans for microbusinesses

As many of 1m microbusinesses could benefit from 100% guaranteed loans and overdrafts for up to £25,000 per small business

News

Rishi Sunak rejects 100 per cent guarantee for business interruption loans

Chancellor Rishi Sunak says he is ‘not persuaded’ by calls to lift state guarantee for coronavirus business interruption loans to 100 per cent

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