Government makes available £330bn of support for businesses through Coronavirus Business Interruption Loan Scheme (CBILS) and Corporate Financing Facility (CFF)
HM Treasury, Bank of England
Businesses (small and medium-sized enterprises (SMEs) and large firms)
Implemented from 23 March 2020. Coronavirus Business Interruption Loan Scheme (CBILS) first announced 11 March and Corporate Financing Facility (CFF) announced on 17 March. CBILS to last for 12 months for government support (CFF duration not stated)
To keep firms operating during the COVID-19 related economic crisis. £330bn made available across the two schemes
The government's Coronavirus Business Interruption Loan Scheme (CBILS) makes up to £5m available to any firm with a turnover of up to £45m. Firms apply via the British Business Bank. The government will pay interest and fees for up to12 months. The government guarantees 80% of lenders' risk on each facility. Over 40 lenders are accessible via the British Business Bank.
The Corporate Financing Facility (CFF) is administered by the Bank of England. Companies deemed to be in good financial health but suffering from cash flow problems are allowed to apply for short-term commercial loans.
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