Edwin Coe LLP (England-Wales): SME’s Cash Injection

The Coronavirus crisis has given the banking system a perfect opportunity to atone for the sins of the past. Rishi Sunak’s Coronavirus Business Interruption Loan Scheme (CBILS) is designed as an immediate life-support package to small and medium sized enterprises (SMEs) whose businesses have been brought to a near standstill. The CBILS  encourages lenders to make available funding whether as a normal term loan, an overdraft or invoice finance or asset finance facility to SMEs and provides the lender  with a government-backed guarantee for up to 80% of the outstanding facility. MORE.

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