CBILS deadline extension
Lenders given extra time to grant loans to SME’s
There is speculation that the government backed loan scheme will be extended into 2021.
Although British Business Bank wrote to all accredited lenders confirming all CBILS applications had to be in by 30th September, they have confirmed that they will be given an additional two months to consider applications. This will effectively extend the final approval date to 30th November.
Deadlines for larger CBILS has been approved and set to 31st December.
According to British Business Bank, government published statistics show over 1.2 million businesses have, as at 26th August, benefitted from loans and guarantees worth £52.7 billion through schemes delivered by the British Business Bank. This includes 1,174,854 Bounce Back Loans worth over £35.5 billion, 60,409 facilities worth almost £13.7 billion through the Coronavirus Business Interruption Loan Scheme and 516 facilities worth £3.5 billion through the Coronavirus Large Business Interruption Loan Scheme.
If you would like to discuss how Liquid Corporate Finance can assist with your CBILS application through our accredited panel of lenders or help with your general equipment and cash raising funding requirements, you can reach us on the any of the details below:
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