UPDATED ON 24 MARCH AT 12:18
To support larger firms, the Bank of England has announced a new lending facility to provide a quick and cost effective way to raise working capital via the purchase of short-term debt.
This will support companies which are fundamentally strong, but have been affected by a short-term funding squeeze, enabling them to continue financing their short-term liabilities. It will also support corporate finance markets overall and ease the supply of credit to all firms.
The scheme will operate for at least 12 months, and for as long as steps are needed to relieve cash flow pressures on firms that make a material contribution to the UK economy.
Am I eligible?
Companies – and their finance subsidiaries – that make a material contribution to the UK economy are able to participate in the facility. More information on eligibility can be found on the Bank of England Website.
How do I access it?
In order to access the CCFF, you will need to contact your bank.
It is important to note that not all banks issue commercial paper. If your bank does not issue commercial paper, UK Finance will provide a list of banks that are able to assist. More information can be found on the Bank of England website.