Retail Businesses: Financial Support - Question

Part of the debate – in the House of Lords at 1:18 pm on 21st September 2020.

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Photo of Lord Callanan Lord Callanan Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy) 1:18 pm, 21st September 2020

The Government amended the CBIL scheme on 30 July to exempt smaller businesses from elements of the undertaking in difficulty test. The British Business Bank has also clarified that if an applicant was not classified as such from the application date, but was so on 31 December 2019, they would, in principle, be eligible. By 16 August more than £53 billion had been approved through the loan schemes, including 60,409 loans worth £13.68 billion through CBILS.