The Coronavirus Business Interruption Loan Scheme (CBILS) is a government-backed initiative to help support the small business community. It enables any SME to apply for funding of up to £5million.
Initially, it was perceived that the scheme was designed for business survival or refocussing but in fact its uses can be far more diverse. For example, if your business is going through a growth initiative then CBILS can be an ideal solution to help.
The following scenarios are some of the most common usages for a CBILS loan:
- Any business that is currently struggling and needs a cash injection
- Any business that is looking to diversify into a new industry sector
- Any business that is introducing new products or services
- Any business that is looking for new premises
- Any business that is looking for new equipment
- Any business that is looking to recruit new employees
Ultimately, CBILS is a highly flexible scheme designed to help all. If you fit the small business criteria, then it is likely that a suitable finance deal can be sourced. In fact, many businesses don’t realise that they can have more than one CBILS finance package as long as they meet the criteria.
To find out more please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.