20 March 2020

Larger firms will be able to access a new lending facility to raise working capital during the coronavirus outbreak. Find out more in our blog.

To support larger firms, the Bank of England has announced a new lending facility to provide a quick and cost effective way to raise working capital via the purchase of short-term debt. 

This will support companies which are fundamentally strong, but have been affected by a short-term funding squeeze, enabling them to continue financing their short-term liabilities. It will also support corporate finance markets overall and ease the supply of credit to all firms. 

Further details, including on how to access this funding will follow in the coming days, and the scheme will be available from the week commencing 23 March.

You can read further information on this on the UK Government website.

We’ve put together articles on a wide number of items announced as part of the Chancellor’s support package – visit our Coronavirus hub to get all the latest details.

Coronavirus Hub


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While there will be plenty of disruption over the next few weeks, we’re here to help! To arrange a call, email Julie on julie@nephosaccountants.co or complete our enquiry form. 
 

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