Coronavirus Business Interruption Loan Scheme Help

We are aware of many customers who are struggling with the Coronavirus Business Interruption Loan Scheme and with recent data showing less than 2% of real applications being approved it is welcoming to hear of the success of the smaller bounce back loan in its first week of operation. 

The CBILS is being improved and altered on a regular basis and will hopefully become more capable of helping many UK businesses in the timeframe that they need it. We have access to the scheme and are also able to assess and inform customers on their own direct applications where we can.

Outside of the CBILS scheme many banks are themselves adapting to the virus crisis, and this has changed how many of them are operating, the interest rates they are charging, the credit assessments they are making and the products that they are making available to borrowers. Some have chosen not to consider new proposals but all have made some changes. These changes are also being updated, almost on a daily basis as more data on the impact of Covid-19 filters through to them.

With almost 23 years of experience in arranging business finance for our customers we are trying to use that experience and knowledge in helping them with CBILS applications and also applications for other non-government backed facilities - some which we can arrange and others where we simply provide advice.

If your business would like a discussion about the facilities that may be available it both in terms of the CBILS offering, and the non-government backed options we will be happy to assist. This would obviously be at no cost to your business. 

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). Full details on CBILS and the list of participating CBILS Lenders can be found on the British Business Bank website at:

British Business Bank
Finance of up to £5 million Guarantee to the lender to encourage them to lend Government pays interest and fees for 12 months
The maximum value of a facility provided under the scheme is £5 million, available on repayment terms of up to six years. The scheme provides the lender with a government-backed, partial guarantee against the outstanding balance of the finance.

The borrower remains 100% liable for the debt.
The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied charges.

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