RE: Funding30 Mar 2020 16:15
Just for the weasels, thick ones and those that find it overly complicated;
would consider viable, were it not for the COVID-19 pandemic
would consider viable, were it not for the COVID-19 pandemic
"The government will provide lenders with a guarantee of 80% on each loan (subject to pre-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The scheme will be delivered through commercial lenders, backed by the government-owned British Business Bank.
You are eligible for the scheme if:
• your business is UK based, with turnover of no more than £45 million per year
• your business meets the other British Business Bank eligibility criteria
WHO IS ELIGIBLE
Your business must:
Be UK-based in its business activity
Have an annual turnover of no more than £45 million
Have a borrowing proposal which the lender:
would consider viable, were it not for the COVID-19 pandemic
believes will enable you to trade out of any short-term to medium-term difficulty"
THERE IS VERY LIKELY NO GOVERNMENT LOAN AVAILABLE FOR BIDS FOR 2 REASONS;
1, THERE HAS BEEN NO BUSINESS INTERRUPTION (CONFIRMED BY JD EARLIER), IN FACT THE OPPOSITE
2, THIS COMPANY WOULD NOT BE CONSIDERED VIABLE BY A UK BANK WITHOUT SECURITY, WERE IT NOT FOR THE COVID-19 PANDEMIC