Government backed loans extended. Have you got adequate cash flow to get your business through the pandemic?
Don’t wait until it’s too late.
Chancellor Rishi Sunak has extended the Coronavirus Business Interruption Loan Scheme (CBILS) until the end of March 2021. If your business has been impacted by the COVID-19 pandemic and you require financial support, you should act now to start planning your cash flow in order to capitalise on the CBILS scheme whilst it is still available.
The scheme is available for SMEs for business loans, machinery, plant, commercial vehicle and equipment finance, refinance and restructuring of existing assets and associated debt, invoice finance and acquisitions / MBOs.
Subject to eligibility, a business can secure up to £5m in CBILS support across various financial products, regardless of whether they have received CBILS funding already or have been declined by their current incumbent bank.
CBILS facilities include:
- Invoice Finance
- Business Loans
- Asset Finance
- Asset Refinance
- MBOs & EOTs
Benefits of using PMD Business Finance for CBILS:
- Borrow £50,001 – £5 million
- Flexible payment terms up to six years
- Potentially pay nothing for the first 12 months
- First year’s interest and all fees paid by the Government
- No Personal Guarantees up to £250K
- Borrowers remain 100% liable for the debt
- Competitive rates
You can use multiple CBILS up to a total value of £5m and applications must be with funders by 31st March 2021.
Did you know? You can refinance a Bounce Back Loan with a CBILS.
Why you should partner with PMD Business Finance:
- Fully CBILS accredited broker
- Access to multiple CBILS lenders
- Faster decisions
- Competitive rates
- Dedicated Account Manager
Start your Coronavirus Business Interruption Loan Scheme application today.
If you want to apply, or if you have further questions on your eligibility, then get in touch here or call one of our experts today on 0161 633 2548.
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