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The Coronavirus Large Business Interruption Loan Scheme has been expanded to cover all viable firms.

All firms with a turnover of more than £45 million will now be able to apply for up to £25 million of finance, and up to £50 million for firms with a turnover of more than £250 million. The scheme, which will launch on Monday 20 April, will be available through a series of accredited lenders, which will be listed on the British Business Bank website. The Government is also clarifying the position for firms owned by private equity, which will be able to access the guaranteed loan schemes. This complements existing support including the Covid Corporate Financing Facility and the Coronavirus Business Interruption Loan Scheme for small and medium sized businesses.

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