Coronavirus… (CBILS): What we know so far

Coronavirus… (CBILS): What we know so far

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 week, it is clear that many travel companies see this as a potential lifeline.

However very little information is currently available and we understand The British Business Bank, who are running the scheme, are still working on the finer details, and eligibility criteria. More information is expected on Monday 23rd March.

In the meantime we’ve pulled together a high-level summary of what we know so far, based on conversations with several banks who are participating in the scheme, and who are familiar with the travel sector and its needs.

20200320 TTC summary – Business Interruption Loan Scheme (CBILS)

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