{"id":244,"date":"2020-03-23T21:50:25","date_gmt":"2020-03-23T21:50:25","guid":{"rendered":"http:\/\/www.merlincf.com\/?p=244"},"modified":"2020-03-23T21:58:32","modified_gmt":"2020-03-23T21:58:32","slug":"coronavirus-business-interruption-loan-scheme-open-for-applications-how-to-help-you-and-your-business-survive-the-current-crisis","status":"publish","type":"post","link":"https:\/\/www.merlincf.com\/latest-news\/coronavirus-business-interruption-loan-scheme-open-for-applications-how-to-help-you-and-your-business-survive-the-current-crisis\/","title":{"rendered":"Coronavirus Business Interruption Loan Scheme open for applications – how to help you and your business survive the current crisis"},"content":{"rendered":"\n

As part of the access to Government support valued at \u00a3330bn the Coronavirus Business Interruption Loan Scheme for SMEs is now open for application.

The main features are:<\/strong>
1) Loans up \u00a35m to SMEs will be backed by the Government
2) Turnover limit of business up to \u00a345 million
3) Before Coronavirus the company must have been viable
4) Interest for the first 12 months and lender fees will be paid by the Government
5) The Government will provide lenders with up to 80% Guarantee
6) There are more than 40 accredited lenders listed on the British Bank website

The issues to consider are: <\/strong>
1) The finance available is a loan and after the initial period the debt will have to be serviced by capital and interest repayment \u2014- very similar to the Enterprise Finance Guarantee Loans supported by the Government\u2014- so you will need to plan for that event
2) Your company must demonstrate its credibility both in terms of credit record and performance, but also in the future \u2014 beyond the Coronavirus Pandemic
3) The Owners \/Directors will still ultimately be responsible for the Loan in the event of the Company failing
4) This facility is not the only financial support available e.g the 80% support of Furloughed employees wages will be available around the end of April
5) However The Coronavirus Business Interruption Loan is likely to be the largest level of finance available at this most uncertain time ever witnessed by several generations
6) Timing is everything\u2014 if a business runs out of cash or credit then serious problems follow – which has already been the experience of many so far in this time of emergency- it is essential to consider your business requirements immediately and then act to provide for the ongoing cash flow

Following the additional restrictions introduced by the Government announced by the Prime Minister (evening of Monday 23rd March) – the movements of all of us are now dramatically reduced  \u2014 however Merlin Corporate Finance can assist your company with new opportunity to get your company through this extremely difficult time – online capabilities  can enable the work needed to achieve the application process to be done.
Merlin is prepared  to do this work on a full risk basis and only be paid upon the success of the Loan application.

For further information about Merlin Corporate Finance please visit www.www.merlincf.com<\/a> and to discuss the help that can be provided please
email me \u2014 Peter@merlincf.com<\/a>


<\/p>\n","protected":false},"excerpt":{"rendered":"

As part of the access to Government support valued at \u00a3330bn the Coronavirus Business Interruption Loan Scheme for SMEs is now open for application. The main features are: 1) Loans […]<\/p>\n","protected":false},"author":2,"featured_media":246,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/posts\/244"}],"collection":[{"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/comments?post=244"}],"version-history":[{"count":2,"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/posts\/244\/revisions"}],"predecessor-version":[{"id":247,"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/posts\/244\/revisions\/247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/media\/246"}],"wp:attachment":[{"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/media?parent=244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/categories?post=244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.merlincf.com\/wp-json\/wp\/v2\/tags?post=244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}