Will the 3 April 2020 Treasury Announcements Be Enough to Unlock Funding for British Business?
In our article published on 25 March 2020
(“Floating Britannia through COVID-19”), we
compared the current crisis with the credit
crunch and aftermath of 2007/8 to look at
the purpose behind the COVID Corporate
Financing Facility (CCFF) and Coronavirus
Business Interruption Loan Scheme (CBILS),
both launched on 23 March 2020. We also
touched on certain other announced fiscal
stimulus measures to keep the British motor
running through the economic crisis caused by
the COVID-19 pandemic.
Just over a week on, have these measures been successful?
And what of the “gap” issue – those companies that are not
(or not deemed to be) investment grade and therefore not
strong enough to benefit from the CCFF, and yet have annual
turnover above the £45 million limit for CBILS loans?
