Launched in March this year, the Coronavirus Business Interruption Loan Scheme provides financial support to smaller businesses across the UK that are losing revenue or seeing their cashflow disrupted due to the coronavirus outbreak.
The scheme is part of a wider government support package for UK businesses and employees, however, it was recently found that many companies have been struggling to navigate the CBILS application process.
Our CBILS online platform aims to simplify this, and has so far helped many businesses across the country gain access to the finance they need during these difficult times. One of our most recent completions provided £100,000 that will be funded to the Midlands-based fabrication and engineering business this week.
What were the client’s objectives?
The client’s business had recently been affected by the outbreak of the coronavirus and so they were seeking advice and financial support through the Coronavirus Business Interruption Loan Scheme.
As the client was very busy running his business, he needed the process to be as quick and easy as possible.
What solutions did we offer?
After being introduced to the Finance 4 Business Group, we reviewed his application carefully, gathering all the information needed to ensure eligibility and appropriate use of the scheme.
Once receiving permission to do so, our thorough understanding of the lender’s CBILS application process meant that we were able to apply for the funding on behalf of the client. The lender subsequently picked up the application directly with the client, but our high-quality and thorough application meant that the process could run smoothly.
The application was successful, and the client has received the funds needed to prepare for their business’s future as the country eases out of lockdown.
How did we ensure success?
As all applications for CBILS for this specific lender has to be through an online portal, the expert team at Finance 4 Business ensured we had a thorough knowledge of the processes involved. This allowed us to apply on behalf of the client, significantly reducing the time needed from the client to gain access to the funds.
As this was the first CBILS application we had submitted to this particular lender, our great level of service and high-quality application has already paved the way for further successful applications.
Finance 4 Business
At Finance 4 Business, we have created an end-to-end service to manage your CBILS application from inception to completion.
Our revolutionary IT platform combined with 250 years of combined Banking Experience means that you are in safe hands.
Our service comes with no upfront charges and a fee is only payable after you are successful with your application. Call us on 0330 202 1111 to find out more.