The schemes are the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) and the Bounce Back Loan Scheme (BBLS).

For firms who had previously taken a BBLS loan, but had borrowed less than the maximum 25% of their turnover or £50,000 (whichever is the lower), will be able to top up their existing loan to the 25% or £50,000 limit.

These changes are now reflected on the British Business Bank's website, read more on the Loan Schemes at the dedicated page.

In other news, the BBB has written to the House of Commons’ public accounts committee to report that in excess of £1.1billion of suspected fraudulent applications under the BBLS scheme has been prevented by lenders since the scheme began in May.  That accounts for almost 27,000 suspicious loan applications, according to the BBB.  Concerns have been expressed by the National Audit Office that a significant number of fraudulent loans have been approved and drawn.  New lockdown restrictions across the UK in response to the second wave of coronavirus will also compromise the ability of some small businesses to commence repayments, to the extent that those businesses remain in business.