Begbies Traynor Group

Covid 19 Coronavirus

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I cannot pay my Bounce Back Loan – What options do I have?

If you are struggling to repay your Bounce Back Loan, there are a number of options open to you. Find out what these mean for you and your company.

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What happens to my CBILS loan during liquidation or administration?

The Coronavirus Business Interruption Loan Scheme, or CBILS, offered a valuable source of emergency finance for businesses during the coronavirus pandemic back in 2020. With 80% of the loan amount backed by the government, the funding was provided by accredited lenders to businesses with a turnover of less than £45 million.

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Moratorium on Statutory Demands and Winding Up Petitions Extended by Government

The government has extended what is effectively a temporary ban on the use of statutory demands or winding up petitions in the context of commercial property leases where tenants cannot afford to pay their rent due to Covid-19.

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What happens to my bounce back loan during liquidation or administration?

A crucial part of the government’s coronavirus support package for businesses was the Bounce Back Loan Scheme (BBLS), which was introduced to provide emergency funding for those affected by the pandemic.

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