IPA welcomes Coronavirus Business Interruption Loan Scheme eligibility extension

The new measures could be a 'life-saver' for smaller agencies according to IPA Finance Director David Clasen.

Last week, the Government announced that the range of businesses eligible for the Coronavirus Business Interruption Loan Scheme had been extended.

Under the new eligibility, agencies classed as undertakings in difficulty, with fewer than 50 employees and turnover of less than £9m, can now apply for a loan under the CBILS.

David Clasen, Finance Director, IPA added: "The IPA continues to prompt the Government, pointing to potential initiatives which would allow more agencies to support its growth agenda. This enhancement could be a life-saver for smaller agencies with high levels of debt and accumulated losses."

Last updated 21 September 2020