Coronavirus loan schemes and Future Fund extended to 31 January 2021

Bounce Back Loan Scheme (BBLS)

– For SMEs, micro businesses and other businesses requiring smaller loans

– Looking for between £2,000 and £50,000

– Term loan repaid over six years

– No set-up fees and first 12 months of interest payments covered by government

– No repayments during the first 12 months

Coronavirus Business Interruption Loan Scheme (CBILS)

– For smaller businesses with a turnover of less than £45m

– Looking for up to £5m in finance

– Business loans, overdrafts, invoice finance & asset finance available

– First 12 months of interest and lender-levied fees covered

– More than 90 accredited lenders

Coronavirus Large Business Interruption Loan Scheme (CLBILS)

– For larger businesses with a group turnover of more than £45m

– Looking for up to £200m in finance

– Business loans, overdrafts, invoice finance & asset finance available

– Repayment terms of up to three years

– Delivered by lenders accredited by the British Business Bank

Future Fund

– Convertible loans from £250,000

– From £125,000 to £5m in government support

– Third-party investors must at least match government support, with no maximum investment limit

– Companies need to have previously raised £250,000+ in equity investment