Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will include (a) the self employed and (b) non-business rate businesses in the coronavirus business interruption scheme.
The Coronavirus Business Interruption Loan Scheme supports small and medium-sized businesses with access to working capital (including loans, overdrafts, invoice finance and asset finance) of up to £5 million and for up to 6 years.
The Scheme is available to self-employed individuals with an eligible business entity. This includes sole traders, freelancers, bodies corporate, limited partnerships, limited liability partnerships or any other legal entity carrying out a business activity in the United Kingdom, with a turnover of less than £45m, operating in most sectors.
Whether or not a business is liable for Business Rates, or occupies business premises, is not a consideration under the Scheme.