Coronavirus (COVID-19) emergency lending

19 Mar 2020

For any businesses expecting tough times over the next few weeks and months as a result of the Coronavirus, please do get in touch with us to discuss your banking arrangements.

  • Existing lenders may be able to offer some support – including loan repayment holidays, interest rate reductions, temporary emergency loans (without a fee) and immediate access to cash deposits.
  • For small to medium-sized businesses (up to £41m turnover) – the British Business Bank is providing the Coronavirus Business Interruption Loan Scheme (CBILS) for funding from £1,000 to £5m.
  • And for large firms with an investment grade rating (or equivalent financial health prior to the Coronavirus) – the Bank of England is providing the Covid Commercial Financing Facility (CCFF) – purchasing commercial paper for a minimum nominal value of £1m.

We are keeping up to speed with all the details as they evolve, and would be very happy to discuss your arrangements with you.

For further information, please call our Banking team on 0800 2800 421 to discuss your banking arrangements. 

Author

Emma Earp

Partner