Changes to state aid rules mean that more small businesses can now benefit from loans of up to £5 million under the Coronavirus Business Interruption Loan Scheme (CBILS).
Previously businesses which were classed as ‘undertakings in difficulty’ were unable to access CBILS because of EU rules. Businesses in this category and which have fewer than 50 employees and a turnover of less than £9 million can apply to CBILS.
For further information please visit the GOV.UK website.