Latest updates from Government on coronavirus business support

Here are the latest updates on Coronavirus business support:

The government has extended the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme from £50 million to £200 million.

Loans under the expanded scheme will be made available to large businesses affected by coronavirus from next week.

Changes also mean companies receiving help through CLBILS and the Bank of England’s Coronavirus Corporate Financing Fund will be asked to agree to not pay dividends and to exercise restraint on senior pay

 

The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the Statutory Sick Pay (SSP) paid to current or former employees.

The repayment will cover up to 2 weeks starting from the first qualifying day of sickness, if an employee is unable to work because they either:
– Have coronavirus (COVID-19) symptoms;
– Cannot work because they are self-isolating because someone they live with has symptoms; or
– Are shielding and have a letter from the NHS or a GP telling them to stay at home for at least 12 weeks.

 

Eligibility details for the Future Fund, which was set up to provide government loans to UK-based companies ranging from £125,000 to £5 million, subject to at least equal match funding from private investors, have been updated.

Please note that applications for the Fund open today, Wednesday 20 May.