Change to Coronavirus Business Interruption Loan Scheme eligibility criteria published – could your charity benefit?

ARCHIVE |
| 1 min read

The rules for the Coronavirus Business Interruption Loan Scheme (CBILS) changed at the end of last week, to remove the requirement for registered charities to generate more than half of their income from trading activities in order to be eligible for the scheme.

This should mean that more charities are now eligible to benefit, and access loans, overdrafts, invoice finance and asset finance through the scheme, of up to £5 million for up to 6 years.

But what do charity trustees need to consider before entering into loan arrangements on behalf of their charity?

For more, read Neil Burton’s article over on our Coronavirus hub.

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