Having entered our second lockdown for 2020, due to the Covid-19 pandemic, businesses continue to seek help. The good news is that the government have recently announced the extension for applying, to all of their loan guarantee schemes. This includes the Bounce Back Loan Scheme, the Coronavirus Business Interruption Loan Scheme and the Coronavirus Large Business Interruption Loan Scheme.
The deadlines have been extended to January 2021, which provides companies with an extra 2 months to be able to apply for additional business funding. Alongside this is the adjustment of the bounce back loan scheme rules which allows any business, who has not borrowed their full entitlement, to top up their existing loan.
According to recent reports over 1.4 million loans have been received by businesses which in value is worth £61.9 billion. All issued by the British Business Bank to help all types of business with their cashflow needs.
There are no changes in criteria, so if you need to boost your business with some cash then the CBIL scheme could be a suitable option. To find out more speak to us today on 01993 706403 or e-mail firstname.lastname@example.org.