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<p>On 23 March 2020, the Coronavirus Business Interruption Loan Scheme (CBILS) was
launched to support businesses’ access to lending, making external finance more available
and affordable at this difficult time.</p><p> </p><p>Under the scheme, viable businesses
with a turnover of less than £45m are eligible to apply for loans of up to £5m and
the Government will provide lenders with a guarantee of 80% on each loan. As of 24
January, lenders have approved more than 87,000 facilities worth almost £21bn through
CBILS.</p><p> </p><p>Businesses with a private equity investor, including where that
investor holds a majority or controlling stake, can still be eligible for CBILS, provided
that they satisfy the other eligibility criteria of the scheme. When assessing the
£45 million turnover eligibility threshold and the maximum loan amount available,
the business will be considered separately to the private equity investor, and its
other investments.</p>
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