23 April 2020
Specialist finance brokerage, Finance 4 Business, is offering their services to maximise companies’ chances of completing a successful coronavirus loan application quickly.
The firm is offering its services to businesses applying for the Coronavirus Business Interruption Loan Scheme (CBILS).
The scheme provides financial support to SMEs across the UK which are losing revenue, and seeing their cash flow disrupted, as a result of the Covid-19 outbreak. The Government will guarantee 80 per cent of loans of up to £5million.
Finance 4 Business says that banks are having trouble managing the inflow of loans applications effectively and many applications are incomplete.
In order to help businesses access the loans faster, Finance 4 Business, based on Cornwall Street in Birmingham, has automated its process for loan applications.
Businesses can start the application process by visiting https://www.f4b.biz/cbils-loans/, which will assess eligibility and prompt a call from one of firm’s seven specialist teams set up solely for the scheme.
Finance 4 Business’ say that their objectives are to deliver applications that meet eligibility criteria, including supporting information required in order to be underwritten, meets the chosen lender’s debt serviceability requirements, and that are manually underwritten twice by an experienced financier prior to submission.
The firm says that in the event of an application being declined it will not charge fees and will direct customers to a more appropriate participating lender.
Russell Martin (pictured), founder and managing director of Finance 4 Business, said: “Having traded through a number of economic cycles it was easy to see that this pandemic was going to be nothing like anything experienced before. Businesses would need cash quickly as revenues dry up whilst attempting to control Covid- 19.
“Banks and Lenders in the main do not have the infrastructure to facilitate speed within this type of transaction, so we have delivered and tested a platform which will help ease the burden, improve conversions and speed up the process significantly. Our offering has been extremely well received by lenders and clients alike.”
To contact Finance 4 Business, call 0330 202 1111 or email CBILS@f4b.biz