During these unprecedented times the Government has announced the Corona Virus Business Interruption Loan Scheme, CBILS. We are already receiving many enquiries of how to access this but at the time of writing there is an information embargo and we must sit and wait. What we do know is that loans will be accessed through funders themselves, not the Government. At this stage it is believed these loans will be interest free for the first 12 months.
The funders with access to this scheme are affiliated with the British Business Bank, however there are few standalone loan providers on this list that cover the whole of the UK, they are more regionalised. They are accepting applications to be on this scheme so expect from funders so we expect to have more options for our clients soon.
Initial feedback from funders on this panel is that they will just be helping existing customers, however we expect as more funders come on board and Government clarify the scheme we believe there will be multiple options.
So if cashflow is being stretched do talk to us. We are close to lenders and all announcements and will work with businesses to source the best possible finance package available.
Contact Beacon Finance on 01603 753877 or email firstname.lastname@example.org