Coronavirus Business Interruption Scheme Summary

Coronavirus Business Interruption Scheme

CoronaVirus

Coronavirus business interruption scheme summary:- you can get further information here.

1. Loan from £25,001 to £5m
2. Terms from 1-6yr
3. No interest for 12mths
4. Capital repayment holiday for 12mths, so some businesses wont have to pay anything for 12mths.
5. Loans limited to 25% of 2019 turnover or double annual wage bill. 

You will have to apply for the loan via your business bank. Normally you will be eligible for the loan if you don’t have any security and the bank would ordinarily reject your application.

Our opinion is that you shouldn’t expect to get the money quickly as banks are likely to be inundated with applications. Contact all your creditors and ask for payment deferments. If you need any assistance contact one of our experts.

This Post Has One Comment

Leave a Reply


Logo

Finance Equation Ltd are multi-award-winning Chartered Certified Accountants providing cutting-edge expert services to individuals, property investors, businesses and contractors.

Get In Touch
However to help us keep that promise and ensure that you ALWAYS receive accurate, detailed responses, please provide us with as much additional information as possible.

The Finance Equation Ltd is a company registered in England & Wales. Company number 05116983. Business address: Finance Equation Ltd, 334 Ley Street, Ilford, Essex, IG1 4AF.

Copyright © 2022 Finance Equation

Powered by Aresourcepool