shaw gibbs - accountants and business advisers
accountants & business advisers

Article

COVID-19 Advice for business - Coronavirus Large Business Interruption Loan Scheme

Article

COVID-19 Advice for business - Coronavirus Large Business Interruption Loan Scheme

3 Apr 2020

1 minute read

The Chancellor has now announced new Coronavirus Large Business Interruption Loan Scheme (CLBILS) to ensure that more firms are able to benefit from Government-backed support during the COVID-19 pandemic.

COVID-19 Advice for business - Coronavirus Large Business Interruption Loan Scheme - news article image

On 25 March I wrote about the The Coronavirus Business Interruption Loan Scheme (CBILS) which was announced by Rishi Sunak in his Spring Budget 2020.

The Chancellor has now announced new Coronavirus Large Business Interruption Loan Scheme (CLBILS) to ensure that more firms are able to benefit from Government-backed support during the COVID-19 pandemic.

It will provide a government guarantee of 80% to enable banks to make loans of up to £25 million to firms with an annual turnover of between £45 million and £500 million. 

Loans backed by a guarantee under CLBILS will be offered at commercial rates of interest and further details of the scheme will be announced later this month.

The Chancellor will be speaking to bank Chief Executives next week to discuss how the schemes are working and ensure everybody is playing their part.

Need expert advice?

Speak to an expert for advice on
+44-1865 292200 or get in touch online to find out how Shaw Gibbs can help you

Email
info@shawgibbs.com

Need expert advice?

Speak to an expert for advice on
+44-1865 292200 or get in touch online to find out how Shaw Gibbs can help you

Email
info@shawgibbs.com

What our clients say

  • I have been a client of Shaw Gibbs since the 1960's and have always found a professional but friendly response from the partners or staff

    I have been a client of Shaw Gibbs since the 1960's and have always found a professional but friendly response from the partners or staff

    Richard Preston

  • Thank you for being such a great partner in building our business!

    Thank you for being such a great partner in building our business!

    Oege de Moor - CEO, Semmle

  • Experience, expertise and support was not only invaluable from a financing perspective, but also in assisting us to determine the future strategy.

    Experience, expertise and support was not only invaluable from a financing perspective, but also in assisting us to determine the future strategy.

    Charles Parry – John Parry Estates Ltd

  • Shaw Gibbs’ service provides timely expertise at a reasonable cost

    Shaw Gibbs’ service provides timely expertise at a reasonable cost

    OATS Limited

© 2023 Shaw Gibbs Ltd

Your registration