Earlier today (3 April), the Government updated UK businesses on its recently-launched Coronavirus Business Interruption Loan Scheme.
The Chancellor Rishi Sunak has put forward new measures which has seen the scheme extended to all viable small businesses affected by the virus, and not just those unable to secure regular commercial financing. Further updates from the Government also include applicable lenders no longer being able to request guarantees on loans under £250,000.
In addition, the Government will continue to cover the first 12 months of interest and fees relating to the scheme’s agreed loans.
OxLEP's Communications Manager Rob Panting on today's loan scheme update
