Coronavirus Large Business Interruption Loan Scheme

(asked on 2nd June 2020) - View Source

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

To ask Her Majesty's Government what levels of security they recommend accredited banks take when granting Coronavirus Large Business Interruption Loan Scheme loans.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 16th June 2020

We would expect a lender to follow its normal credit policy when assessing additional security generally. Personal guarantees of any form cannot be used in respect of any Coronavirus Large Business Interruption Loan Scheme (CLBILS) facilities up to £250,000. For facilities of £250,000 and over, claims on personal guarantees applied to the scheme facility cannot exceed 20% of losses on the scheme facility after all other recoveries have been applied.

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