Key Features of The Loan Scheme UK

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Large Business Interruption Loan Scheme UK

• Morgan Reach

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About the scheme

• It provides finance to mid-sized and larger UK
  businesses with a group turnover of more than
  45m that are suffering disruption to their
  cashflow due to lost or deferred revenues.
• Companies borrowing more than 50m will be
  subject to further restrictions on dividend
  payments, senior pay and share buy-backs during
  the period of the loan.
• The Loan Scheme extended until 31 January 2021.

https//morganreach.com
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How it works

• Loan is available through a range of British
  Business Bank accredited lenders and partners,
  listed on the British Business Bank website.
• Finance is available in the form of
• term loans
• revolving credit facilities (overdrafts)
• invoice finance
• asset finance

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Key features of the scheme

• Finance of up to 200 million
• Guarantee to the lender to encourage them to
  lend.
• Finance terms from three months to three years.
• Security No personal guarantees are permitted
  for facilities under 250,000

https//morganreach.com
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How to apply

• Find a lender based on what amount of loan you
  are expecting (i.e. gt50m or lt50m).
• Approach a lender via the lenders website.
• The lender will decide whether to offer you
  finance.
• If one lender turns you down, you can still
  approach other lenders within the scheme.

https//morganreach.com
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Who is eligible

• Your business must
• Be UK-based in its business activity.
• Have an annual turnover of more than 45 million.
• Have a borrowing proposal which the lender would
  consider viable.
• Self-certify that it has been adversely impacted
  by the pandemic.
• Not have received a facility under the Bank of
  Englands COVID-19 Corporate Financing Facility.

https//morganreach.com
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Reach Us
BIRMINGHAM 136 Hagley RoadEdgbastonBirminghamB1
6 9NX
LONDON 239 Kensington High Street, Fl.
1Kensington, LondonW8 6SA
MANCHESTER 82 King StreetManchesterLancashireM2
4WQ
https//morganreach.com