Final week to access CBIL scheme

Businesses have just over a week left to make an application for the Coronavirus Business Interruption Loan Scheme, the Chamber 's preferred finance hub has warned.

The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses affected by coronavirus.

The scheme helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million.

The government guarantees 80 per cent of the finance to the lender and pays interest and any fees for the first 12 months.

However, the scheme comes to an end on Wednesday 31 March.

As the Chamber 's preferred finance hub, Finpoint has been helping Chamber members access the CBILs.

“With only a week left until the CBIL scheme ends, this is the last chance for businesses to make their application, ” said the Finpoint partnerships team.

“Over the last year we have been able to support many businesses get the funding injection needed to help their recovery, and there is still time for you to get your applications in, so we urge businesses to get in touch this week. ”

Click here to access the Chamber and Finpoint 's dedicated finance hub.