This week’s Business Finance Bulletin is another Coronavirus Business Interruption Loan Scheme (CBILS) special.
Opening this episode, we look at the announcement that Funding Circle has now joined the panel of accredited CBILS lenders. How will Funding Circle change the Scheme, and will it lead to a speeding up in distribution of funds?
We also review how CBILS has performed so far in supporting businesses in need of finance. A look at the figures reveal that the impact has been minimal and how a quickening of the pace is now needed.
To close the Bulletin, if you are thinking of applying for a loan under CBILS, what information will you need submit to the lender? Preparation is the key to ensure you don’t suffer from any unnecessary delays.