On 19 May 2020, the Government extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS), from £50 million to £200 million.
This increase is designed to ensure that larger firms who do not qualify for the Bank of England’s Coronavirus Corporate Financing Fund Facility (CCFF) have enough finance to meet their cashflow needs throughout the coronavirus period.
The changes also mean that companies receiving help through the CLBILS and the CCFF will be asked to agree not to pay dividends, and to exercise restraint on senior pay.
The loans available under the expanded scheme will be made available from 26 May 2020.
More information can be found here.