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Adding value by
solving business problems.

Adding value by
solving business problems.

Latest News

Coronavirus Future Fund launched
20/05/2020 - More...
Last month, the Chancellor, Rishi Sunak, announced a number of measures to help innovative firms survive the Coronavirus

Maximum loan under CLBILS increased to £200m
20/05/2020 - More...
The scope of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) is to be extended from 26 May 2020. The

Working safely during coronavirus
19/05/2020 - More...
The government has produced guidance to help employers, employees and the self-employed in England understand how to

CBILS – what clients need to submit when making an application

Source: Other | | 07/04/2020

The Coronavirus Business Interruption Loan Scheme (CBILS), delivered by the British Business Bank, is designed to help support primarily small and medium-sized businesses to access bank lending and overdrafts.

The government will provide lenders with a guarantee of 80% on each loan (subject to a per-lender cap on claims) to give lenders further confidence in continuing to provide finance to SMEs. The government will not charge businesses or banks for this guarantee, and the Scheme will support loans of up to £5 million in value. Under the scheme, businesses can access the first 12 months of that finance interest free, as the government will cover the first 12 months of interest payments.

If you have clients looking to submit an application, they should be aware of what they need to submit when making an application.

Firstly, your clients will need to provide loan details: the amount they would like to borrow, what the money is for and the period over which they will make the repayments.

They will also need to provide certain evidence to show that they can afford to repay the loan. This is likely to include management accounts, cash flow forecasts, business plan, historic accounts and details of assets.

For clients approaching their existing lenders for a smaller facility, the process may be automated and therefore may not require the same level of documentation.



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Milton Avis LLP
Chartered Accountants
Pitt House
120 Baker Street
London W1U 6TU

Tel : 020 3219 5860
E-mail : This email address is being protected from spambots. You need JavaScript enabled to view it.

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