Coronavirus Business Interruption Loan Scheme
(asked on 20th April 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, what steps he plans to take to extend the Coronavirus Business Interruption Loan Scheme to businesses that have no rateable property but have been adversely affected by the covid-19 outbreak.
This question was answered on 28th April 2020
Whether or not a business is liable for Business Rates, or occupies business premises, is not a consideration under the Coronavirus Business Interruption Loan Scheme (CBILS).
To be eligible for a facility under CBILS, a smaller business must:
- Be UK based in its business activity, with turnover of no more than £45m per year.
- Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by the lender
- Self-certify that it has been adversely impacted by the Coronavirus (COVID-19).