The Government has extended the CBILS loan scheme
Thanks to the recent announcement from the Government, you can still get finance with nothing to pay for 12 months under the Coronavirus Business Interruption Loan Scheme (CBILS).
The extension allows more businesses to take advantage of this unique funding opportunity, where the Government will pay the upfront fee and first year of interest on your behalf.
This could reduce your monthly outgoings and give you the breathing space of a 12-month repayment holiday. Plus, with the significant interest savings under the scheme, it could make a big difference to your costs.
Alternatively, you could boost your cash flow or invest in your business.
When taking a CBILS loan, the business is liable for the full loan amount. CBILS provides a guarantee to the lender, not the business.