For small and medium-sized businesses, the Coronavirus Business Interruption Loan Scheme opens to applicants on Monday. It will offer loans and overdrafts to UK businesses by providing their lender with a Government-backed guarantee. In short, this maximises their chances of being accepted for a loan to help keep their business afloat. That means that we are not only taking unprecedented action but doing so at unprecedented speed, because we know that businesses and their employees need help now." "On Monday a new lending scheme, the Covid Corporate Financing Facility, will open to help businesses manage through this period of uncertainty.

Source: Daily Mirror March 23, 2020 15:16 UTC