Updates – Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS)
By David Marshall
Closing Date Deferred
The British Business Bank has announced that the deadline for applications for these loan schemes has been extended from 30th November to 31st January 2021.
BUT…… We understand that some of the accredited Lenders may be closing for applications before this, so perhaps best not to delay!
Bounce Back Loan – Second Bite
The Treasury announced last weekend that businesses which originally borrowed less than the maximum £50,000 or 25% of turnover, can top up their Bounce Back Loans. Not all Lenders are able to offer this today, but refer to your Bank’s website for further announcements.