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Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme (CBILS)

 

CBILS aims to financially assist small businesses which have been affected by the pandemic to access loans of up to £5 million.

The government guarantees 80% of the funding to the lender and pays interest and fees for the first 12 months.

 

Eligibility

For any requests the company must complete the requirements below:

  • Be based in the United Kingdom
  • Maximum turnover of £45 million per year

Businesses in all sectors can be granted the loan, except: banks, insurers, public sector organizations and state-funded schools.

If you wish to borrow £30,000 or more, you must certify that the company was not classified as distressed at December 31, 2019.

Applications are open until January 31, 2021.

 

Term of the loan

  • Up to 3 years for overdrafts and invoice financing facilities
  • Up to 6 years, for loans and asset financing facilities

 

How do I apply?

50 lenders are participating in the program, simply apply to their department and mention:

  • The amount to be borrowed
  • What the money will be used for
  • The Repayment periods

 

Euro Accounting

Shabir Djakiodine

Chartered Accountant

France – UK – Ireland – Switzerland

Company incorporation, domiciliation, accountancy, tax, VAT, payroll, consolidation,

management account

www.euro-accounting.com

[email protected]

+44(0) 778 986 2405 – +33(0) 7 56 91 93 32

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