Coronavirus Business Interruption Loan Scheme (CBILS)Apply For Your CBILS Loan Today
About the Coronavirus Loan Scheme
The Coronavirus Business Interruption Loan Scheme (CBILS) is a response to the ongoing Coronavirus in the United Kingdom. The new measures announced are designed to assist businesses who may face financial difficulty over the coming months.This is an unprecedented loan scheme backed by the UK government.
Accounts Lab can submit your loan application to up to 40 lenders in one go. You do not have to contact your usual business banking provider.
Who Is Eligible
- Must be UK-based in its business activity
- Have an annual turnover of no more than £45 million
- Have a borrowing proposal which the lender would consider viable
- Self-certify that it has been adversely impacted by the coronavirus
Key Features of the Scheme
- Loans up to £5 million available
- No fees and interest for 12 months
- Repayment from 1 to 6 years
- 80% backed by the Government
- No personal guarantee up to £250,000
How Can Accounts Lab Help?
A comprehensive coronavirus loan application needs to be submitted. This is likely to include:
- Management accounts
- Cash flow forecast
- Business plan
- Historic accounts
- Details of assets
At Accounts Lab, we have bespoke software that links directly to your Xero. From this we can prepare bespoke coronavirus cash flow forecasts.
We can then submit your Coronavirus Business Interruption Loan to over 40 Lenders all at once giving you he best chance of success.
Contact a Coronavirus Loan SpecialistWe Can Start Your Application Today
FAQs about the Coronavirus Business Interruption Loan Scheme (CBILS)
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