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On 17 March 2020, HM Treasury (HMT) and the Bank of England (BoE) introduced a COVID-19 Corporate Financing Facility (CCFF), open for drawings from 23 March 2020. The CCFF is designed to supply bridging assist to firms which are basically strong (based mostly on pre COVID-19 metrics) however have been affected by a short papercp-term funding squeeze, and thus may struggle in current markets to obtain entry to finance for his or her working capital and liquidity wants. The BoE expressed its intention to help companies across a spread of sectors to pay wages and suppliers, even while experiencing severe disruption to cashflows.

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