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Loan scheme extended to allow larger businesses to access up to £200m

20 May 2020 by

Large businesses will be able to access up to £200m under the Coronavirus Large Business Interruption Loan Scheme (CLBILS) after the scheme was extended by the Treasury.

However, in return, companies will have to agree not to pay dividends and to exercise restraint on senior pay.

The scheme had previously offered loans up to £50m. The larger loans will be available from 26 May.

John Glen, economic secretary to the Treasury, said: "We're determined to support businesses of all sizes throughout this crisis and our loans and guarantees have already provided over £32b to thousands of firms.

"Today we're increasing the maximum loan to £200m to make sure companies get the help they need."

Picture: Shutterstock

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Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

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