Insights

COVID-19: Helping you secure a CBILS/CLBILS loan

Obtaining funding in these tricky times is not easy. While the Government has introduced a range of schemes, these are not suitable for everyone. 

We have worked hard to pull together a number of connections to make sourcing funding easier. We have partnered with Capitalise, who provide direct access to a number of lenders including CBILS lenders and reached out to other debt and equity funders to understand their current appetite.

We can support you in the following ways
  • Assessing your requirements
  • Explaining the options available to you
  • Taking you through the practicalities of taking on debt or other finance
  • Helping you prepare your case
  • Introducing you to suitable funders
  • Working alongside you throughout the process. 

CBILS

Approach your own bank first.

We are generally advising firms to approach their existing bank first, via their normal point of contact. We have generally found that banks responsiveness has been improving since the introduction of CBILS.

Access to 10 CBILS loan providers

If you have exhausted the options with your bank – or have decided to look elsewhere – we can help.  We have partnered with Capitalise, an innovative business finance platform, to give you access to 10 of the British Business Bank’s CBILS and CLBILS accredited lenders who are able to provide loans up to £25 million.

That means we do the hard work, finding the type of finance and the amount of finance you need, while you focus on other business critical issues.

FAQs

What types of finance can you help me find?

All of the providers we are linked to provide term loans, overdrafts, asset finance and invoice finance – all of the lending facilities that are covered by CBILS.

Can you help me prepare my application?

Yes. The information you need to provide is extensive and needs to be complete prior to making the application.  We can help you prepare it.
 

Can I compare deals myself?

Yes you can.  All CBILS approved lenders are now able to consider applications from businesses that aren’t existing customers.  However, we also know that the time to complete and process applications is a time consuming one.

My business is complex – is Capitalise suitable?

Capitalise allows easy access to lenders; however it is more suitable for simple businesses. We recommend that you get in touch with us to discuss how best to approach CBILS if you are a larger or more complicated business. The first port of call should be your existing bank.

I need to move quickly. How long does the process take?

In our experience, for a simple business, if the application pack is complete then you may have an answer within a week of applying. Funds make take longer to be received. For most CBILS/CLBILS loan applications we would allow 2 – 4 weeks.

What do I do if CBILS or CLBILS isn’t right for my business?

Where CBILS or CLBILS is not suitable for you we can advise on other sources of finance available. We can make appropriate introductions to sources of equity or debt finance.