Guide East Devon business Coronavirus update, 9 April 2020

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6. Business Interruption Loan Scheme improvements

Lenders should not now request personal guarantees for loans under £250,000 and operational changes have been made to speed up lending approvals. The government will continue to cover the first twelve months of interest and fees. For loans over £250,000, personal guarantees will be limited to just 20% of any amount outstanding on the lending after any other recoveries from business assets. Read more