The Coronavirus Business Interruption Loan Scheme (‘CBILS’) deadline has been extended and now closes to new application on the 31st January 2021; applications received before that date can be processed and paid out until 31st March 2021 at the latest.
The CBILS eligibility criteria for businesses are:
- The business must have been impacted by Covid-19
- Turnover must not exceed £45m
- Have a viable borrowing proposition were it not for the pandemic
- UK-based in their main trading activity
Further criteria apply and can be found on the British Business Bank website.
Our lending criteria covers:
- Limited Companies based in England and Wales
- Facilities from £5,000 to £100,000
- Maximum Interest Rate for CBILS Facilities of 14.9% per annum
- Hire Purchase or Finance Lease for equipment purchases
- Asset Refinance for equity release from existing equipment or machinery
- Businesses trading more than 6 months