Originally featured on the Starling Bank blog. For more information on the support Starling are offering their customers, click here. Some of the smallest businesses in the economy have been given a potential lifeline: the chance to apply for up to £50,000 in 100% government-backed loans, with no interest over 12 months. Five weeks after lockdown, the […]
Responding to the Government’s announcement of measures aimed at improving small business access to the Coronavirus Business Interruption Loan Scheme (CBILS), Federation of Small Businesses (FSB) National Chairman Mike Cherry said: “We welcome the Chancellor’s personal intervention to ensure that banks deliver the government-backed emergency loans which are urgently needed by many small businesses”.
The Coronavirus Business Interruption Loan Scheme (CBILS) offers a loan of up to £5 million that is interest free for the first 12 months however there are concerns about “the way the loan scheme is being rolled out and being interpreted by some lenders”. The Business, Energy and Industrial Strategy Committee has written to Rishi Sunak, outlining a […]