Yesterday the Government announced the following changes will be made to the Small Business Cashflow (Loan) Scheme:
• Currently no interest is charged if the loan is repaid within one year. This will be increased to two years.
• Currently the loan can only be used for core operating costs. This will be broadened so that the loan can be used, for example, on capital expenditure.
In addition applications for the loan can now be made until 31 December 2023, an extension of three years.
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