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Government Support for Business

David Aston - April 3rd, 2020


Further changes today as the the government announced major amendments to the terms on which support is offered to businesses badly affected by the the Coronavirus pandemic.

Businesses seeking loans to support them through the crisis will no longer need to apply for a commercial loan before they are granted a loan and borrowers will not be required to sign personal guarantees (although it must be borne in mind that businesses will need to service these loans as some point in the future).

It remains to be seen to whether these measures will mean that access to much needed funds is accelerated, thus improving the short term liquidity of businesses and giving a boost to confidence.

As mentioned yesterday, the speed with which things are changing is bewildering for many and so a close eye needs to be kept on future developments.