On 20 April 2020, the UK Government announced a new “Future Fund” to support private businesses in the UK. This added to the existing Coronavirus Business.
Interruption Loan Scheme (“CBILS”), the Coronavirus Large Business Interruption Loan Scheme (“CLBILS”, which went live on the same day that the Future Fund was announced), and the Bank of England’s COVID Corporate Financing Facility (“CFFF”).
This note summarises and compares the key characteristics of each of these funding schemes: Eligibility, Format, Headline Terms, Use of Proceeds, Other Key Terms, and How to Apply. We do not cover other forms of UK government support here (for example, the Coronavirus Job Retention Scheme), which are covered in other resources on our COVID-19 Hub