Business: Coronavirus

Department for Business, Energy and Industrial Strategy written question – answered on 5th May 2020.

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Photo of Baroness Benjamin Baroness Benjamin Liberal Democrat

To ask Her Majesty's Government what plans they have to introduce a scheme to assist companies facing cashflow problems due to large numbers of refund requests triggered by COVID-19 related cancellations.

Photo of Lord Callanan Lord Callanan Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The support announced by the Government is intended to support firms to keep trading throughout this difficult period. Cashflow issues are highly likely to be included in the list of difficulties any of these firms might experience.

The Coronavirus Business Interruption Loan Scheme (CBILS) provides support to small businesses which were viable before the Covid-19 outbreak.

The Small Business Grant Fund is designed for eligible small businesses with relatively high fixed costs and experiencing reduced trade as a result of social distancing and closures policies.

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