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Thrings
Thrings Solicitors in Swindon have been providing legal advice to businesses and individuals for almost 300 years.
6 Drakes Meadow, Swindon, SN3 3LL
Website Email 01793 410800The first step for any business with existing borrowing is to speak to their lender to establish how those existing facilities may be amended. This may include repayment holidays, increased borrowing or extended repayment periods.
If further funding is needed the Government’s new temporary Coronavirus Business Interruption Loan Scheme (CBILS) is likely to be relevant. This is a variation of the Government’s Enterprise Finance Guarantee (EFG) arrangements that were made available in 2008 amid the banking crisis, in order to encourage lenders to make business loans.
What is the CBILS?
CBILS is a new scheme that has been introduced by the Government to provide small and medium-sized businesses with access to funding during this period of disruption caused by COVID-19.
What are key features of CBILS?
Who is eligible for a CBILS loan?
CBILS loans are available to businesses across all sectors, with the exception of banks, building societies, insurers and public sector, religious or political membership organisations if a borrower meets the following eligibility criteria:
What fees are payable in order to access a CBILS?
No fees are payable by the borrower to the Government in order to access a CBILS loan.
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Thrings Solicitors in Swindon have been providing legal advice to businesses and individuals for almost 300 years.
6 Drakes Meadow, Swindon, SN3 3LL
Website Email 01793 410800In case you missed it see what’s in this section
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