With only 15 days until Christmas, many businesses are starting to embrace the slowdown that comes with preparing for the festivities. Spending time with family and taking a more relaxed approach to business matters. This is often when business owners take the time to reflect on the previous 12 months and plan for the next 12 months. It is also when many explore their financial position and evaluate if they will need extra funding for the following year.
Our message on this front is very simple; if you can, try to apply before Christmas. The reason is that lenders currently have some great opportunities, especially while the CBIL (Coronavirus Business Interruption Loan) Scheme is still running. However, the lenders are not like banks, they do not have an infinite amount of money to lend. Also, due to the overwhelming success of CBILS, many funders are predicting that responding to applications will start to be delayed and take much longer. They are even suggesting that more applications will be declined due to funds not being available.
Christmas for your business really could come early if you boost your cashflow thanks to a CBILS loan. To make an application please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.