Updated 4th May 2020 A discretionary fund has been set up to support certain small businesses previously outside the scope of the business grant funds scheme. The government has pledged a further £617 million in grants for small businesses unable to access much needed finance. This is an additional 5% uplift to the £12.33 billion funding previously announced for the Small Bu ...

The Chancellor has written to all accredited CBILS lenders on the new Bounce Back Loan Scheme (BBLS) that provides for a 100% government guarantee. The key points from the letter are: Interest rate set at 2.5% The minimum facility size for term loans and overdrafts under current CBILS will increase to £50,001 to avoid any risk of confusion or overlap between the two scheme ...