The British Business Bank has recently extended the deadline for completion of Coronavirus Business Interruption Loan Scheme (CBILS) applications by two months to 30 November 2020. However, the deadline for submitting CBILS applications remains 30 September 2020.
The deadline for approving Coronavirus Large Business Interruption Loan Scheme (CLBILS) applications has also been extended from 20 October 2020 to 31 December 2020.
In our latest report, we have outlined the key features of both schemes and the factors to consider when submitting applications and approaching funders for support.
Gambit has been assisting many businesses with their COVID-19 action plans and CBILS/CLBILS applications, stress-testing their forecasts and providing guidance on the funding available.
The firm is proud to have maintained a 100% success rate of applications (against a wider market success rate of 50%)
If you would like to set up a call to discuss the challenges facing your business, understand the most appropriate funding options available and best practice in presenting your COVID-19 plan and CBILS/CLBILS applications, please contact a member of the team.