CBILS extended until January 2021

Once again the deadline for the government’s Coronavirus business interruption loan schemes has been extended. The three core schemes – the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and the Bounce Back Loan Scheme (BBLS) – as well as the Future Fund have been extended to 31 January 2021.

It was also announced that eligible businesses will be able to ‘top up’ existing Bounce Back Loans should they need additional finance. There was no change to the core criteria of up to 25% of 2019 turnover and a maximum loan of £50,000 for the Bounce Back Loan.

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