Skip to main content

Small Businesses: Government Assistance

Question for Department for Business, Energy and Industrial Strategy

UIN 55964, tabled on 8 June 2020

To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 4 June 2020 to Question 51958, on Bounce Back Loan Scheme, how businesses using the Bounce Back Loan Scheme (BBLS) that later decide that they need more financing can refinance under the Coronavirus Business Interruption Loan Scheme (CBILS) when as stated businesses are not permitted to access more than one of either the BBLS, CBILS, the Coronavirus Large Business Interruption Loan Scheme or the Covid Corporate Financing Facility scheme at the same time.

Answered on

11 June 2020

Under the Bounce Back Loan Scheme (BBLS), a business which has had their application for a loan accepted, or is part of a wider group (defined by having a holding company at the top of their structure) in which any business has had their application for a loan accepted, is not able to apply for a further loan.

Businesses using the BBLS, who later decide that they need more financing, may be able to refinance their loan in full under Coronavirus Business Interruption Loan Scheme (CBILS) provided they are eligible for the CBILS.

Businesses are not permitted to access more than one of either the BBLS, CBILS, Coronavirus Large Business Interruption Loan Scheme (CLBILS) or the Covid Corporate Financing Facility (CCFF) scheme at the same time.

Answered by

Department for Business, Energy and Industrial Strategy
Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.