As businesses face significant financial pressures, we understand that it is a difficult time and you might not find it comforting if you have read about some potential flaws with the Government’s Coronavirus Business Interruption Loan Scheme in the press.
While the CBILS has drawn some criticism, it is still a useful tool for some businesses. Introduced by the government as a scheme to support smaller businesses across the UK struggling financially due to the COVID-19 outbreak, the scheme has changed and expanded the eligibility criteria to better reflect the current situation. By adding a few more lenders to the scheme since it was unveiled (at least five new lenders have been accredited to the scheme in the last few days), a greater number of businesses can now access the support they need.
At ASC, having successfully raised finance through good and challenging times for the last 50 years, we know the different types of finance which are available. With many reputable lenders and schemes, you can be provided with access to vital funds.
If you want to talk about raising business finance, through CBILS or other means, contact your local ASC office.