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Key Features of The Loan Scheme UK

It provides finance to mid-sized and larger UK businesses with a group turnover of more than u00a345m that are suffering disruption to their cashflow due to lost or deferred revenues. The Loan Scheme extended until 31 January 2021, check out for more details.

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Key Features of The Loan Scheme UK

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  1. Large Business Interruption Loan Scheme UK Morgan Reach

  2. About the scheme • It provides finance to mid-sized and larger UK businesses with a group turnover of more than £45m that are suffering disruption to their cashflow due to lost or deferred revenues. • Companies borrowing more than £50m will be subject to further restrictions on dividend payments, senior pay and share buy-backs during the period of the loan. • The Loan Scheme extended until 31 January 2021. https://morganreach.com

  3. How it works • Loan is available through a range of British Business Bank accredited lenders and partners, listed on the British Business Bank website. • Finance is available in the form of: • term loans • revolving credit facilities (overdrafts) • invoice finance • asset finance https://morganreach.com

  4. Key features of the scheme • Finance of up to £200 million • Guarantee to the lender to encourage them to lend. • Finance terms from three months to three years. • Security: No personal guarantees are permitted for facilities under £250,000 https://morganreach.com

  5. How to apply • Find a lender based on what amount of loan you are expecting (i.e. >£50m or <£50m). • Approach a lender via the lender’s website. • The lender will decide whether to offer you finance. • If one lender turns you down, you can still approach other lenders within the scheme. https://morganreach.com

  6. Who is eligible • Your business must: • Be UK-based in its business activity. • Have an annual turnover of more than £45 million. • Have a borrowing proposal which the lender would consider viable. • Self-certify that it has been adversely impacted by the pandemic. • Not have received a facility under the Bank of England’s COVID-19 Corporate Financing Facility. https://morganreach.com

  7. Reach Us BIRMINGHAM 136 Hagley RoadEdgbastonBirminghamB16 9NX LONDON 239 Kensington High Street, Fl. 1Kensington, LondonW8 6SA MANCHESTER 82 King StreetManchesterLancashireM2 4WQ https://morganreach.com

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