Rishi Sunak, the chancellor of the exchequer, has announced an extension to the coronavirus loan scheme to cover large businesses ahead of its official UK-wide roll out next week.
The updated Coronavirus Large Business Interruption Loan Scheme (CLBILS) will now provide lenders a government guarantee of 80% on bank loans of up to £25m for businesses with an annual revenue of more than £45m, the Treasury has announced.
