Government plans permanent state-backed small business loan scheme

The government is planning to replace existing coronavirus business support with a permanent state-backed small business loan scheme.

Under the plan, which would be launched in January, the government would guarantee 80 per cent of loans to small businesses, ranging from a few thousand pounds up to £10m per company over a six-year lending period.

In effect, the new state-backed SME loan scheme would extend the Coronavirus Business Interruption Loan Scheme (CBILS) but with a lower threshold. The minimum CBILS loan is £10,000.

Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans.

bonhill group plc
Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn

More articles like this

Time Finance plc

Time Finance anticipates stronger financial year ahead

Time Finance, a specialist finance provider listed on AIM, has announced its expectations for a stronger-than-anticipated performance for the full year. Over the first five months of the 2024/25 financial year, the company has reported consistent

Time Finance plc

Time Finance appoints Matt Heap as new Head of Credit

Time Finance has welcomed Matt Heap as the new Head of Credit within its Asset Finance division, bringing over two decades of experience in financial services. Matt’s background includes senior positions such as Business Manager at

Time Finance plc

UK budget changes target economic growth and business stability

This year’s Budget announcement has introduced several new measures that the Government hopes will rebuild public finances, create economic growth, and strengthen business foundations across the UK. Among the most notable shifts is a £40 billion

Time Finance plc

Business finance for entrepreneurial success

Business finance is a crucial aspect of running a successful company, yet many business owners wonder what it exactly entails. At its core, business finance involves managing a company’s financial resources to ensure ongoing growth and

Time Finance plc

The importance of Business Strategy

A business strategy typically serves as an outline detailing how a company plans to position itself, grow over time, and achieve its short-term and long-term objectives. It doesn’t always have to be a formal document, but

Time Finance plc

How to raise capital for business growth and success

Understanding how to raise capital can significantly impact a business’s success. Without the necessary funds, a company cannot grow or even begin its path towards success. Yet, many businesses struggle to identify the most suitable methods