Loans – Bounceback & CBILS

*** UPDATE*** Bounceback loans announced – 2.5% interest ratequick & easy to access. Gov.uk Bounce back Loans webpage (external link)

 

The Coronavirus Business Interruption Loan Scheme (CBILS) (external link)

CBILS FAQ Helpsheet (external link)

AccountingWeb article (External link)

CBILS are limited to:

  • A maximum of 25% of 2019 turnover or
  • Twice the annual wage bill – whichever is greater.