London Bridging and Jumbo Bridging Finance launch specialist Coronavirus Business Interruption Loan Scheme (CBILS) web site

London Bridging and Jumbo Bridging Finance have today launched a specialist Coronavirus Business Interruption Loan Scheme (CBILS) web site dedicated to providing support to companies who want to access the loan and cash flow funding facilities guaranteed by HM Treasury.

Dubai based CEO Chris Dailly commented “These really are challenging and unprecedented times and all business’s are reeling from the new reality that we are facing for the next 6-12 months and normal business has more or less halted for the time being so the measures taken by the government will provide crucial support to SME businesses to try and ride out this storm.

However despite these facilities being provided the application procedure is complex and with over 40 lenders offering a myriad of options we felt we could turn our decades of experience towards not just doing our regular bridging loans but also to advise assist and place CBILS funding requirements.”

Everything you need can be accessed through our new dedicated website - www.covid19businessfunding.info.

A brief summary of the CBILS is below.

About the scheme…

The temporary Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak.

The scheme is a part of a wider package of government support for UK businesses and employees. The scheme supports small and medium-sized businesses with access to loans, overdrafts, invoice finance and asset finance of up to £5 million and for up to six years.

The Government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.

The scheme will be delivered through commercial lenders, backed by the Government-owned British Business Bank.

Published: 03 April 2020