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• 27 Mar

  Avoid The Queues Personal Service Business Funding

  

  The launch of the Government's Coronavirus Business Interruption Loan Scheme (CBILS) on Monday will have been a welcome lifeline for many UK businesses.

  However, we have heard some reports of:

  • Very long wait times to speak to some of the lenders.
    
    
  • Some lenders only offering CBILS to existing customers.
    
    
  • Some applicants being rejected.
    
    
  • Concerns over personal guarantees being the first port of call for recovery, before the Government guarantee.
    
    
  • Concerns over the liberality of funding as the lender is still assuming 20% of the risk.

  Despite these issues we hope that it will help many UK businesses get through this crisis.

  Alternative Business Funders

  There are alternative forms of funding, such as invoice finance facilities, available from a broad range of independent financiers, that are likely to be more easily accessed quickly.

  SEEK ALTERNATIVE FUNDING

  Our Personal Service To Find You Finance

  We just wanted to reiterate that we offer a personal service to take the hassle out of finding business finance. We do the shopping around for you, and we have an extensive panel of finance companies offering a broad range of different funding solutions.

  One call to us (03330 113622), and we can get working for you finding you options. We don't charge you to use our service, we receive a commission from the funder if you choose to go ahead. On the basis that we have achieved average cost savings of 31% on invoice finance quotes received from elsewhere, clients normally end up saving money by using our service.

  Our expectation is that for many companies, the impact of the UK lockdown will only begin to bite financially, after a few more weeks. By that time, you could have your emergency business finance in place, and working for you. We do not need to visit you, and neither do many of the funders that are on our panel. This means that arrangements can be put in place remotely, without the risk of personal face-to-face contact, and without the hassle.

  By Glenn Blackman