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Coronavirus Business Interruption Loan Scheme

Yellow Stone Finance have access to lenders that are participating in the Coronavirus Business Interruption Loan Scheme (CBILS), delivered by the British Business Bank. We also have access to other lenders that are willing to offer business loans during this time.

 

The Coronavirus Business Interruption Loan Scheme (CBILS), delivered by the British Business Bank, is now available to support small and medium sized businesses to access funds with turnovers up to 45 million. 

 

What does our CBILS application support service provide?

  • We have been working with the major lenders to understand exactly what information they need to process your application. We can help you provide all the information your lender needs, in the format that they need so that your application can be processed quickly.

  • We aim to make sure your plan maximises the support offered by the government. We have a working knowledge of the banks & lenders participating in the scheme.

  • We can help you set out a business plan that will be acceptable to the lender to meet the repayments.

  • Some loans over £250,000 backed by the CBILS will require security. We can help you negotiate the structure of this security with your Lender and its interaction with existing facility providers to make sure that your exposure is minimised as far as is practicable particularly in relation to Personal Guarantees.

  • We understand you may have pressing things to deal with in your business and therefore we will manage much of this process for you to free up your time.

 

Important things to consider

  • We will apply to lenders on your behalf as identified by the British Business Bank.

  • Demand is expected to be high so applications without well-considered proposals and robust supporting information will take longer to process, therefore, please provide all relevant documentation and written proposal with this in mind 

  • CBILS funding requires that you can evidence that were it not for the COVID-19 pandemic, your request for funding would be considered viable by the lender. A clear case with supporting information will be needed to be set out to lenders in order to be successful.

 

What should do I do next?

If you would like us to help your business access funds under the Coronavirus Business Interruption Loan Scheme (CBILS), contact us now. A member of our team will endeavour to discuss your CBILS application as soon as possible.

 

If you are awaiting the outcome of a CBILS application and you have a more pressing need for funding, or you are not being supported by the government, please do not hesitate to get in touch to discuss further options available.