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SFA agree deal with Rangers bankers Close Brothers to provide loans to cash-strapped clubs

Rod Petrie Britain Scotland covid-19 reports cover country Rangers

15.06.2020 - 10:49

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SFA and bankers Close Brothers to help struggling clubs secure emergency loans.Like many businesses cross the country, teams have been mired in issues over cash flow but Scottish football suffers the additional problem of banks continuing to snub loans to SPFL teams.A hangover to financial issues of the past, it has left clubs struggling to make ends meet as the COVID-19 crisis deprives them of the their ticket proceeds lifeblood.The Daily Mail reports SFA president Rod Petrie has stepped in to the breech and has confirmed that there are two types of loans available to bridge senior teams through the crisis.Clubs can apply for the Coronavirus Business Interruption Loan Scheme (CBILS) through the UK government to the tune of up to £5million.

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