Loan size increased to £200 million under large business interruption scheme

Several changes to the CLBILS scheme have taken effect from 26 May. The government has extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200 million.

However, companies borrowing more than £50 million through theCLBILS will be subject to restrictions on dividend payments, senior pay and share buy-backs during the period of the loan. This will include a ban on dividend payments and cash bonuses, except where they were previously agreed.

Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:

'It is good to see the government continue to listen to business concerns and make improvements to existing schemes.

'These important changes could make a real difference to larger firms in particular, and alongside the other lending support schemes will help ensure that more businesses of all sizes get access to the finance they need to help weather this unprecedented economic storm.'

Internet link: British Business Bank website

About us

We were established over 80 years ago

We continue to build on our enviable reputation for providing excellent advice and first class service to our business and personal clients alike...

Bere Mill Cows image by Henry Lawford, licensed under CC 2.0 license.

© 2024 Montpelier Professional (Galloway) Limited . All rights reserved. We use cookies on this website, you can find more information about cookies here. powered by totalSOLUTION

Newton Stewart Office : Montpelier Professional (Galloway) Limited , 1 Dashwood Square, Newton Stewart, Dumfries & Galloway DG8 6EQ
Leswalt Office : Montpelier Professional (Galloway) Limited , Challoch Inn, Leswalt, Dumfries & Galloway DG9 0LJ

VAT No 151 179 030. Registered in England and Wales No. 06025692. Registered Office: Sanderson House, Station Road, Horsforth, Leeds LS18 5NT. Montpelier Chartered Accountants is a trading name of Montpelier Professional (Galloway) Limited.

Professional Indemnity Insurers: Arch Insurance, 5th Floor, Plantation Place South, 60 Great Tower Street, London, EC3R 5AZ