Make Use Of The CBIL Scheme
Updated: Feb 11, 2021
The CBIL Scheme is unlike any other loan scheme that’s ever been available to businesses, and we’d hate our clients and other companies in the area to miss out on funding that their business may be eligible for.
We offer a review of your loans completely free of charge and will happily discuss your options regarding the CBIL Scheme, so don’t hesitate to give us a call if you’d like to have a chat.
What is the CBIL Scheme?
The Coronavirus Business Interruption Loan Scheme has been put in place to provide financial support to businesses affected by the pandemic. It is available to SMEs and offers loans, along with other kinds of finance options, for up to £5 million. Set up fees and the loan interest for the first 12 months are met by the Government with the aim of helping businesses recover and grow in the current economy.
Who is Eligible?
Any UK-based business with an annual turnover of up to £45 million can apply, excluding banks, insurers/reinsurers, public sector bodies and state-funded schools. Normally the loans are available for up to 25% of 2019 annual turnover or are driven by the business’ capital requirements for the next 12 months.
An Example from Last Month
Just last month, one of our clients saved 10% a year on their annual interest costs, and they are no longer required to provide a personal guarantee of £200,000. Our client was delighted with the outcome and, best of all, there were no fees for them whatsoever as it was all covered under the CBIL Scheme.
Get Your Free Review & Discuss Your CBIL Scheme Options
Want to know if the CBIL Scheme can help support you through the pandemic? Our team will review your current loans for FREE and show you your best options in the simplest way possible. You’ll need to be quick, as the scheme is available for a limited time only. Simply give us a call on 0191 466 1234 and we’ll do all we can to help you!