To help UK businesses through these challenging times, the Chancellor announced the Coronavirus Business Interruption Loan Scheme (CBILS) in his budget statement.
In our discussions over the last few weeks, it is clear that many travel companies see this as a potential lifeline.
The British Business Bank launched the scheme on Monday 23rd March, since then there has been various criticisms of the scheme and lenders involved. The government has taken note and subsequent variations have been made.
Below is the latest summary of the scheme as of 16 April 2020.
The COVID-19 crisis is rapidly evolving and the Government's response and the details of support on offer are continuously changing. We'll be updating our posts regularly to ensure our analysis and advice remains as accurate and useful as possible. To receive the very latest information as we release it follow us on LinkedIn. If you have any questions in the meantime, please get in touch.