Benefits of Coronavirus Business Interruption Loan Scheme
Borrower always remains liable to pay 100% of the principal and interest after 12 months.
Provisions to provide further discretionary financial support to businesses
Type of loans under CBILS
CBILS supports a wide range of business finance products, including:
Eligibility Criteria for Coronavirus Business Interruption Loan Scheme (CBILS)
Your business may be eligible if it:
CBIL will only be considered where a conventional facility for the same amount could not be offered because there is no or insufficient lending security.
Eligibility restrictions for CBILS
Please note that a limited number of further eligibility restrictions do apply. Full details can be found here.
Almost all business sectors are eligible, however there are a small number of excluded/restricted sectors arising primarily from EU de minimis-State aid rules.
Now, Further education establishments have also been eligible for loans under (CBILS) across the UK.
Also Read: Key Points of Budget 2020
Suitability of CBIL for Businesses
CBIL is suitable for businesses that:
Viability of Coronavirus Business Interruption Loan Scheme (CBILS)
The business needs to demonstrate that it:
CBIL will be considered if:
Viability will be considered in relation to future trading expectations and business plans.
How can DNS help
DNS is able to help you with entire application process. We will create your application pack and fill loan application form for you.
One we have created loan application pack you have two options
- Apply to your existing business bank, or;
- We apply to multiple lenders via our partner platform Capitalise.
Once we submit all the information and documents with Capitalise, they follow up and directly reach out to you.
We provide the following services as part of Loan Application Pack
Also Read :-
- Limited Company Expenses You Can Claim When Working From Home
- Government Announces ‘Unprecedented’ Measures for Small Businesses to Fight Coronavirus Crisis
Any questions? Schedule a call with one of our experts.
Whether you prefer to meet and speak over the internet, or if you prefer an in person conversation we can help you with your preference.
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