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

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 5 May 2020 to Question 40489, on Coronavirus Business Interruption Loan Scheme, if his Department will extend the repayment terms of Coronavirus Business Interruption Loan Scheme for growers in the seasonal ornamental horticulture sector with small profit margins who are unable to repay a loan from that scheme or the Bounce Back Loan scheme within six years.

While we continue to keep the schemes under review, there are currently no plans to amend the maximum term of a CBILS or BBLS facility.

Businesses in the horticultural sector benefit from the full interest and fee payment under the Coronavirus Business Interruption Loan Scheme (CBILS), as the Government will cover the first 12 months of interest payments and any facility arrangement fees charged by lenders. This is called the Business Interruption Payment.

Under the Bounce Back Loan Scheme (BBLS), the Government will cover the first 12 months of interest payments and fees charged to the business by the lender. This is called the Business Interruption Payment. There will be an affordable flat rate of 2.5% interest thereafter. In addition, loans under the BBLS do not require repayments to be made in the first 12 months.