Professional Organisations: Government Assistance

(asked on 25th March 2020) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government what support they are providing to professional membership companies during the COVID-19 pandemic.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)
This question was answered on 7th April 2020

As of 3rd April, professional membership organisations that receive at least 50% of their income from trading activity and that otherwise meet the scheme eligibility criteria can access the Coronavirus Business Interruption Loan Scheme (CBILS).

CBILS 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 six years. The Government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.

This content was generated for your convenience by Parallel Parliament and does not form part of the official record.
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