Personal loans, credit cards and overdrafts

The Financial Conduct Authority (FCA) is fast-tracking new measures that will force banks to freeze loans and credit card payments for up to three months to help those individuals whose finances are affected by the Coronavirus outbreak. The measures should be in force by 9 April 2020 and will include: A three-month repayment freeze on…

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The Coronavirus Large Business Interruption Loan Scheme (CLBILS)

The Government has announced a further scheme to support businesses through the Coronavirus crisis. The Coronavirus Large Business Interruption Loan Scheme (CLBILS) is aimed at large businesses with annual turnovers of between £45 million and £500 million. These businesses cannot access facilities through the Coronavirus Business Interruption Loan Scheme (CBILS), which is limited to companies…

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