Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what the (a) guidance and (b) eligibility criteria are for the covid-19 Business Interruption Loan Scheme.
The Coronavirus Business Interruption Loan Scheme (CBILS) is now live.
Eligible businesses can apply for a loan or other form of finance through one of 40-plus providers accredited by the British Business Bank to offer the scheme. These include all the major UK banks.
The application process is typically online for smaller amounts and the lending decision is made by the provider concerned.
Full guidance, including eligibility criteria, is available on the British Business Bank website at www.british-business-bank.co.uk/cbils.