CBILS In 2021: What You Need To Know

Someone calculating their finances with pound coins on the table

It’s good news for businesses who have been negatively impacted by COVID-19. The Deadline for applying to CBILS has been extended to support more businesses.

When is the new CBILS deadline?

The CBILS loan scheme has now been extended to 31st March 2021. This means you have until this date to start an application a loan.

Rishi Sunak announced the extension and therefore offers businesses some relief during the first quarter of 2021. The original CBILS deadline was set to be 30th September.

At Ethos, we’ve seen how the Coronavirus Business Interruption Loan Scheme has helped our clients cope with the stress COVID-19 is having on their business. Some clients have even used the scheme to purchase additional assets to help their companies expand.

You can see what benefits are included in CBILS here or you can get in touch with our expert team to start applying for a loan.

As a result of the government announcing support from the British Business Bank, we have been working with our network of lenders to see how we can support you to keep your business on track.

Are you looking to upgrade your fleet or purchase replacement vehicles as well as support your cashflow? CBILS can help companies maintain growth even during the pandemic. We’re also able to offer existing and new funding arrangements to support them through this current crisis.

Get in touch today to find out how CBILS can help secure your business during these unstable times.

The Chancellor has also announced a new business interruption scheme which will start in January. For the moment, we are unsure what the details will be around this scheme. A further job protection scheme has also been developed.