Companies borrowing more than £50 million under the UK government’s revised state-backed Coronavirus Large Business Interruption Loan Scheme are subject to restrictions on dividend and cash bonus payments, executive pay and share buy-backs during the loan period. On 19 May 2020, the government increased the scheme’s maximum permitted loan to £200 million — up from a previous limit of £50 million — with the aim of helping firms that don’t qualify for the Bank of England’s COVID Corporate Financing Facility (CCFF). The restrictions apply to companies taking CCFF loans for more than 12 months, after 19 May.
Companies borrowing more than £50 million through the scheme face the following restrictions:
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