|Blog Article|||||By Knights PLC||23 July 2020|
At Simplyhealth, we work with a variety of businesses, from small and medium sized enterprises, such as dental and veterinary practices, to large corporate partners. We understand the importance of keeping up to date with correct and relevant information and the value of guidance, support and advice. In collaboration with our legal partner, Knights PLC, we’ve put together a suite of business resources to help you through this challenging time.
The Coronavirus Business Interruption Loan Scheme (“CBILS”) provides financial support to smaller businesses (SMEs) across the UK that are losing revenue, and seeing their cashflow disrupted, as a result of the COVID-19 outbreak.
The scheme is a part of a broader package of government support for UK businesses and employees.
CBILS has been significantly expanded along with changes to the scheme’s features and eligibility criteria. The changes mean even smaller businesses across the UK impacted by the coronavirus crisis can access the funding they need.
Access to the scheme has been opened up to those smaller businesses who would have previously met the requirements for a commercial facility but would not have been eligible for CBILS. Insufficient security is no longer a condition to access the scheme.
This significantly increases the number of businesses eligible for the scheme. The expanded scheme will be operational with lenders from Monday 6 April 2020.
Details of the CBILS are available here.
Our phone lines are very busy at the moment, and our contact team may be working in isolation. LiveChat will provide quicker service. Or if you'd prefer to speak to someone, please see our get in touch page for details about how to contact us.
We apologise for any wait you may encounter.
This material may contain links to other websites operated by third parties. It is the responsibility of third parties to ensure such material and websites comply with all relevant laws and regulations. To the maximum extent permissible by law Simplyhealth disclaims all responsibility for such websites.