The government is preparing a fresh overhaul of the emergency loan packages on offer for larger businesses battling to survive the coronavirus pandemic.
The Treasury plans to double the interest-free sums available to companies under the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £25m to £50m, according to Sky News.
Companies with a turnover of more than £250m would be eligible to apply for the increased sums under new proposals set to be signed off by Chancellor Rishi Sunak.
It would mark a change from the previous terms unveiled by the government at the start of April. Then, it said that companies with sales of between £45m and £500m could borrow up to £25m.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.