Covid Loans

[SpeedBash]

If you were a take away restaurant, which loans would you have been eligible for during, for want of a better term, peak-covid times?

I know The Bounce Back Loan Scheme (BBLS) was one option, were there any others provided by central government?

Also, was there any scheme(s) being administered by local authorities?

Is there any way I can find out which schemes a particular company applied for and received?

[FazerBoy]

Business-rates payers would have been eligible for covid grants of varying amounts, depending on their rateable values.

[StevieBee]

SpeedBash said:

Also, was there any scheme(s) being administered by local authorities?

Yes, but this varied across the country as did the types of support provided. Most local support covered premises adaptation costs where physical changes were needed such as screens and the like.

SpeedBash said:

Is there any way I can find out which schemes a particular company applied for and received?

No.

There is pressure being placed on the government to release this information but they have so far refused to do so. I can't see them budging on that and to be frank, I don't see why anyone would need to know other than in the case of a business purchase when such loans would be revealed as part of the due diligence process anyway.

Edited by StevieBee on Thursday 28th April 08:57

[UrbanAchiever]

There was also the Coronovirus Business Interruption Loan Scheme (CBILS) for loans over £50k. Which was replaced last year by the Recovery Loan Scheme.

It's very hard to tell if a business has one. If they are a limited company you can look them up on companies house to see if there are any charges registered. In most cases, this will be in the form of a debenture. However, not all lenders took debentures for CBILS or RLS loans. And in other cases the lender may already have had a debenture in place for prior lending. And regardless, the debenture doesn't specify which loan it was used to secure.

So in a nutshell, very hard to know.