Original article featured on the British Business Bank website (https://www.british-business-bank.co.uk/coronavirus-loan-schemes-and-the-future-fund-extended-to-30-november-2020)
The Chancellor of the Exchequer has today extended the government’s three Coronavirus business interruption loan schemes and the Future Fund. The extension aligns all the end dates of the schemes to 30 November, ensuring that there is further support in place for those who may need it.
More businesses will now be able to benefit from the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS), the Bounce Back Loan Scheme (BBLS) and the Future Fund.
As the schemes were announced at different times, they previously had different closing dates, with each scheme originally open for applications for a period of six months – 30 September (CBILS and Future Fund), 20 October (CLBILS), and 4 November (Bounce Back Loan Scheme).
Further information on the four schemes is available on the British Business Bank website. Information for investors, companies and solicitors regarding the closure of the Future Fund will be published on the British Business Bank website and the Future Fund portal.
CEO, Andrew Adcock commented:
We welcome the extension from the UK Government and the Chancellor, who at this time are seeking to support UK PLC. Whilst we would ask that some of the barriers be lowered for the future fund to assist younger companies, it is good to see continued support.
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Find out more: https://crowdforangels.com/future-fund