On 20 April 2020, the UK Government announced a new “Future Fund” to support private businesses in the UK. This added to the existing Coronavirus Business.
Interruption Loan Scheme (“CBILS”), the Coronavirus Large Business Interruption Loan Scheme (“CLBILS”, which went live on the same day that the Future Fund was announced), and the Bank of England’s COVID Corporate Financing Facility (“CFFF”).
This note summarises and compares the key characteristics of each of these funding schemes: Eligibility, Format, Headline Terms, Use of Proceeds, Other Key Terms, and How to Apply. We do not cover other forms of UK government support here (for example, the Coronavirus Job Retention Scheme), which are covered in other resources on our COVID-19 Hub
Key contacts
Nick Pantlin
Partner, London
Alex Kay
Partner, London
Chris Ninan
Partner, London
Jon Ford
Partner, London
Michael Tan
Senior Associate, London
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.