20th April 2020
Link Financial services AskIf’s CBILS program
We are very proud to be working with Ask Inclusive Finance (AskIf) and servicing their Coronavirus Business Interruption Loan Scheme (CBILS) program.
CBILS is delivered through accredited lenders and is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak.
The scheme enables lenders to provide facilities to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cash flow. It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities
CBILS has been significantly expanded along with changes to the scheme’s features and eligibility criteria so that greater numbers of smaller businesses across the UK impacted by the Coronavirus crisis can access the funding they need. Insufficient security is no longer a condition to access the scheme. Importantly, access to the scheme has been opened up to those smaller businesses which would previously have met the requirements for a commercial facility, but would not have been eligible for CBILS. This significantly increases the number of businesses eligible for the scheme. The expanded scheme has been operational with lenders since 6 April 2020.
AskIf offer CBILS loans from £10,000 to £60,000 to businesses that have been trading for a minimum of 12 months.
For more information visit: https://www.askif.co.uk/cbils