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Professional Organisations: Government Assistance

Question for Department for Business, Energy and Industrial Strategy

UIN HL2952, tabled on 25 March 2020

To ask Her Majesty's Government what support they are providing to professional membership companies during the COVID-19 pandemic.

Answered on

7 April 2020

As of 3rd April, professional membership organisations that receive at least 50% of their income from trading activity and that otherwise meet the scheme eligibility criteria can access the Coronavirus Business Interruption Loan Scheme (CBILS).

CBILS supports small and medium-sized businesses with access to working capital (including loans, overdrafts, invoice finance and asset finance) of up to £5 million and for up to six years. The Government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.

Answered by

Department for Business, Energy and Industrial Strategy