Coronavirus Business Interruption Loan Scheme

(asked on 23rd March 2020) - View Source

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.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 21st April 2020

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.

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