CBILS to be replaced – don’t miss out

The Chancellor announced yesterday that the Coronavirus Business Interruption Loan Scheme (CBILS) will be replaced on 31st March by a new government backed scheme: The Recovery Loan Scheme. It is anticipated that the new scheme will be much less attractive for borrowers.

Plan for 2021 & beyond – get your application in before CBILS ends

It is imperative that SME businesses understand the positive ways in which CBILS can help navigate their business through the next year. Don’t miss your chance to apply for CBILS before it’s gone for good.

You will have one month to drawdown on Loan facilities and six months to drawdown on any Asset Finance & Asset Refinance facilities – but you must apply before 31st March 2021.

Did you know CBILS can be used to finance trucks, trailers, plant & machinery?

As well as being a Business Loan, CBILS also encompasses other finance facilities, such as: Asset Finance, Asset Refinance and Acquisition Finance. Subject to eligibility, a business can secure up to £5m in CBILS support, regardless of whether they have received CBILS funding already or have been declined by their bank.

Start your application today

PMD Business Finance is one of the UK’s largest independent providers of business finance.

As a fully accredited CBILS broker, PMD has access to multiple CBILS lenders and is best placed to offer advice on CBILS, its benefits and how it can support your business directly this year.

Get in touch with Tom Brown, PMD’s Director, today for more information: 07793 242 280

Or click here to apply today!

 

The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS

“For quicker decisions & better results, trust the experts at PMD.”

Get in touch