Coronavirus Business Interruption Loan Scheme
Support For Your Business Through the Crisis
The British Business Bank has put together a scheme to assist small businesses suffering from cashflow disruptions due to lost or deferred revenues arising from the Covid-19 crisis. CBILS supports a wide range of funding facilities including asset finance facilities, term loans and invoice finance.
Lenders are provided with a government backed guarantee for 80% of the loan, which has opened the facilities to a wide range of SMEs. The first 12 months of the loan are interest free, as the government will pay for this during this period. The scheme went live on Monday 23rd March and will initially run for six months. Liquid Corporate Finance can assist your business in accessing this facility.
British Business Bank has confirmed that accredited lenders now have a further two months to process and approve CBILS applications. Applications must now be in by 30th September, pushing the final date for approval to November 30th. Larger CBILS applications deadlines have been set to December 31st.
Call Liquid Corporate Finance, in the first instance, on 0333 772 1782 if you would like to learn more about equipment finance, secured loans or CBILS. We will discuss your requirements and will then approach our panel of accredited CBILS lenders with your proposal.
If the accredited lender is able to offer finance on normal commercial terms without the need to make use of the CBILS scheme, they will do so. Businesses from any sector can apply. However, there are some exceptions.