The Coronavirus Business Interruption Loan Scheme (CBILS)
Apr 08, 2020
The Coronavirus Business Interruption Loan Scheme (CBILS) has been revamped from Monday (6th April). They have reopened the scheme with a promise to approve more loans (not enough have been approved so far).
The criteria are:-
Turnover < £45m
UK based business
Be an ongoing business, if it weren't for the pandemic
Certify that you have been affected by coronavirus (self certification)
Open to sole traders and limited companies
You will need to provide the following:-
UK based business
Be an ongoing business, if it weren't for the pandemic
Certify that you have been affected by coronavirus (self certification)
Open to sole traders and limited companies
You will need to provide the following:-
Outline what you need (how much and why, plus how long the loan would be for)
Historic accounts
Management accounts
Up to date business plan
Cash flow forecast
Assets in the business
Plus:
Profile the owner and/or management team
The owner’s investment in the business
Whether or not security is available
Other business interest
If you are business less than 2 years old, you could apply for a startup loan instead.
I can help you with providing the information you need for a CBILS...
