Correspondence

CBILS: EU State Aid Rules and 바카라 사이트渦ndertakings in difficulty바카라 사이트�

As a result of government and industry lobbying of the European Commission, a change to EU State Aid rules means more small businesses can access government-backed loans.

From:
HM Treasury, Department for Business, Energy & Industrial Strategy and The Rt Hon John Glen MP
Published
30 July 2020
This was published under the 2019 to 2022 Johnson Conservative government

Documents

PDF, 83.3 KB, 2 pages

Details

  • Letter from John Glen MP (Economic Secretary to the Treasury) and Paul Scully MP (Minister for Small Business, Consumers and Labour Markets; Minister for London) to Bob Wigley (Chair, UK Finance) on a recent change to EU State Aid rules that will mean more small businesses can access government-backed loans.

  • The letter sets out that the European Commission has relaxed its State Aid rules so that small and micro businesses 바카라 사이트� meaning fewer than 50 employees and turnover less than 拢9 million 바카라 사이트� will be exempt from elements of the 바카라 사이트榰ndertaking in difficulty바카라 사이트� test, and are now eligible for the Coronavirus Business Interruption Loan Scheme (CBILS).

  • The letter also sets out our expectation that all accredited CBILS lenders will implement the changes, noting the consequence that businesses whose CBILS applications they have previously declined may now be eligible.

Updates to this page

Published 30 July 2020

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