Government support for business
On 17 March the chancellor announced an unprecedented 330 billion would be available to support business.
The government will be underwriting credit and guaranteeing loans for business. The interest free period has been extended to 12 months.
For larger businesses the Bank of England will provide loans to those that can demonstrate they were in sound financial state before the crisis CCFF.
For SMALL and MEDIUM Business a business interruption loan , increased to allowing up to a 5 million pound loan with the first 6 months interest paid by government. This will be delivered by British business bank , details not yet released. The government will cover/guarantee 80% of any losses. This is similar to the EFG Loan. Details on application to be launched soon by government.