The Government’s scheme designed to support SME’s during the Coronavirus outbreak is starting to take shape, with it expected to launch early next week.
The Government is advising those eligible and who wish to apply, to first discuss business plans with their bank or financial provider first. Acting quickly will allow the financial providers to ascertain the business’s needs and give details on the information needed to complete the application, in a process which should be similar to a regular finance application. The banks should be receiving further information from The Treasury in the upcoming days so best to be on the ball. A full list of accredited lenders can be found here – https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/
Once the lender has made you aware of the documentation required, we will be on hand to provide the support necessary to secure the funding. Services such as business plans and cash flow forecasts which may be required will be offered with payment plans structured around the current economic crisis. We will be in touch with clients who we think will need our support but please contact us if you would like our help.