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Coronavirus Business Interruption Loan Scheme (CBILS).

In light of the impact of the Coronavirus, we understand the importance of businesses to be able to access the Coronavirus Business Interruption Loan Scheme (CBILS) provided by British Business Bank (BBB) for loans up to £5m.

Thanks to our extensive network, we have key insight into the position the banks are in and what they require in order for businesses to make a successful application for loans of £500k and aboveThe lenders are inundated with CBILS applications and are struggling under the sheer volume. Having a properly prepared application with all required information will likely put your application into the ‘fast’ lane as it’s easy for them to process. 

How we can help

Our eight step process to help you succeed in your CBILS loan application:

1. Background

Discuss the historic and current trading of your business and identify the quantum of loan you are looking to achieve.

2. Assess

Confirm that you meet the bank’s criteria and assess the likelihood of the funding.

3. Develop

Work with you on the reason for the application to maximise the probability of success.

4. Forecast

Assist in the preparation of forecasts, which demonstrate the short term and long term position of the business, applying the COVID-19 mitigating circumstances.

5. Present

Use our report to present your information – historic, current, future and financial needs, clearly and consistently.

6. Report

Send your application to the bank, fielding any further questions.

7. Negotiate

Be active in the negotiations with the bank on your behalf to ensure both parties are happy with the terms and the covenants are reasonable.

8. Manage

Project manage the application to completion.

 

The benefits of our eight step process

  • Get the presentation right the first time
  • Prioritised application
  • Loan received faster and on best available terms
  • Save yourself time to be able to focus on your business
  • Increase probability of approval
  • Mutually beneficial process for both businesses and banks
  • Business analysis to assist in decision making in these uncertain times
  • Assistance in ensuring you are maximising other government benefits

Buzzacott Corporate Finance

Get in touch

About the author

+44 (0)20 7556 1457
judda@buzzacott.co.uk
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Get in touch

Get in touch with PJ or Alex to discuss your eligibility for a CBILS loan of £500k + and how to submit a successful application to receive your loan quickly, on the best available terms. 

corporatefinance@buzzacott.co.uk