{"id":79,"date":"2020-04-09T12:25:19","date_gmt":"2020-04-09T11:25:19","guid":{"rendered":"https:\/\/www.robertbrucefp.com\/blog\/?p=79"},"modified":"2020-04-09T12:25:19","modified_gmt":"2020-04-09T11:25:19","slug":"coronavirus-business-interruption-loan-scheme-cbils-2","status":"publish","type":"post","link":"https:\/\/www.robertbrucefp.com\/blog\/?p=79","title":{"rendered":"Coronavirus Business Interruption Loan Scheme (CBILS)"},"content":{"rendered":"<p><strong>Supporting viable businesses struggling with the challenges of COVID-19<\/strong><\/p>\n<p>Any qualifying business that needs access to cash to pay rent, salaries, suppliers or buy stock will be able to access this government-backed scheme and support during these unprecedented times.<\/p>\n<p>The Coronavirus Business Interruption Loan Scheme (CBILS) is designed to support UK-based small and medium-sized businesses, with a turnover of up to \u00a345 million, with a viable business proposition but are struggling with the challenges of the coronavirus (COVID-19) outbreak.<\/p>\n<p><!--more--><\/p>\n<p><strong>How to apply for the CBILS:<\/strong><\/p>\n<p><strong>1. Find a lender<\/strong><\/p>\n<p>View and select a Coronavirus Business Interruption Loan Scheme (CBILS) accredited lender.<\/p>\n<p><strong>2. Approach a lender<\/strong><\/p>\n<p>You should approach a lender yourself, ideally via the lender\u2019s website.<\/p>\n<p><strong>3. The lender makes a decision<\/strong><\/p>\n<p>The lender has the authority to decide whether to offer you finance. If it can do so on normal commercial terms without having to make use of the scheme, it will.<\/p>\n<p><strong>4. If the lender refuses your application <\/strong><\/p>\n<p>If one lender turns you down, you can still approach other lenders within the scheme.<\/p>\n<p><strong>Who is eligible?<\/strong><br \/>\n<strong><br \/>\nYour business must be:<\/strong><\/p>\n<p>UK-based in business activity<br \/>\nHave no more than \u00a345m annual turnover<br \/>\nHave a borrowing proposal which, were it not for the current pandemic, would be considered viable by the lender, and for which the lender believes the provision of finance will enable the business to trade out of any short-to-medium term difficulty<\/p>\n<p><strong>40 accredited finance providers<\/strong><\/p>\n<p>You should apply via your lender\u2019s website or through one of the 40 accredited finance providers offering the scheme (and not the British Business Bank). The lender has the authority to decide whether to offer you finance.<\/p>\n<p>Decision-making on whether you are eligible for CBILS is fully delegated to the 40 accredited CBILS lenders. These lenders range from high-street banks, to challenger banks, asset-based lenders and smaller specialist local lenders.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Supporting viable businesses struggling with the challenges of COVID-19 Any qualifying business that needs access to cash to pay rent, salaries, suppliers or buy stock will be able to access this government-backed scheme and support during these unprecedented times. The Coronavirus Business Interruption Loan Scheme (CBILS) is designed to support UK-based small and medium-sized businesses, &hellip; <a href=\"https:\/\/www.robertbrucefp.com\/blog\/?p=79\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Coronavirus Business Interruption Loan Scheme (CBILS)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/79"}],"collection":[{"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=79"}],"version-history":[{"count":1,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/79\/revisions"}],"predecessor-version":[{"id":80,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/79\/revisions\/80"}],"wp:attachment":[{"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=79"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=79"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.robertbrucefp.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=79"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}