Eligible Worcestershire businesses can now access the updated Coronavirus Business Interruption Loan Scheme (CBILS). The scheme helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million. The government guarantees 80% of the finance to the lender and pays interest and any fees for the first 12 months.
Worcestershire businesses are eligible if they are:
- Based in the UK
- Have an annual turnover of up to £45m
Those applying will also need to demonstrate that there business would have been viable if it wasn’t for the COVID-19 pandemic and therefore has been adversely impacted by the coronavirus. The scheme is open until 31 January 2021.
Worcestershire businesses interested in learning more about these funds and how to apply are encouraged to contact Worcestershire Business Central, via their website here or by phoning 01905 677 888.