Who provides the loan?
Most of the UKs major banks offer this, along with a number of alternative lenders. It is recommended that your first port of call should be your current banking provider.
Apparently the banks have not been very forthcoming with this support and passing on the government guarantee, is this true?
This was the case, however, the government passed new legislation over a week ago to force banks into offering these schemes and passing on the guarantee, whereas prior to this Directors were being asked for personal guarantees. This is not to say they won’t ask for guarantees for the additional 20% not backed by the [...]
Am I eligible for a Business Interruption Loan?
If you are a business that would otherwise be in a position to receive finance if it wasn’t for the drop in trading due to COVID-19, then it is highly likely you would qualify for a Business Interruption Loan. You must be able to show a drop in trading as a result of the current [...]