Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what guidance the Government has issued to (a) Coronavirus Business Interruption Loan Scheme and (b) Bounce Back Loan Scheme private lenders on borrowers seeking to refinance or restructure their debt.
The Coronavirus Business Interruption Loan Scheme and the Bounce Back Loan Scheme are delegated schemes, so it is for lenders to manage relationships with their borrowers. Lenders are expected to follow their normal commercial process when assessing restructure/refinance requests.