Venture Finance offering assistance with the Government’s CBILS finance facilities

5th June 2020

Venture Finance helps SMEs as well as property developers and investors with their funding requirements, by working with a panel of over 200 funders for clients across all industry sectors.

Venture Finance helps SMEs as well as property developers and investors with their funding requirements, by working with a panel of over 200 funders for clients across all industry sectors.

We have been working with a number of alternative lenders who are accredited for the Government-backed CBILS (Coronavirus Business Interruption Loan Scheme), offering 4 key facilities: Term loans; Asset finance; Invoice finance; and overdrafts.

Subject to a few narrow exceptions, CBILS facilities are available to SMEs with UK based business activities and annual turnover not exceeding £45m. SMEs must self-certify that they have been adversely impacted by Covid-19 and generally speaking cannot have been classed as a business in difficulty as at 31 December 2019.

There are now over 40 accredited lenders offering various forms of CBILS, but many, especially the High St, are restricting applications to existing customers. We work with a number of the alternative CBILS lenders who also accept applications from new customers.

Requirements vary by lender but as an indication the minimum documentation required is 3 years filed accounts, 6 months bank statements, a business plan and perhaps some recent management accounts.

Our experience to date with CBILS has been interesting. Alternative lenders have shown themselves to offer faster decision and turnaround times. However, with huge appetite for CBILS facilities, all accredited lenders are being thorough in their due diligence with strict requirements around business track record, profitability and existing debt ratios.

Presenting a credible and robust business case is of paramount importance when applying for a CBILS facility. This is where Venture Finance’s experience and expertise comes in. Our two founding directors are qualified Chartered Accountants with the tools to present your financial information in the best way.

Feel free to get in touch with Managing Director Kiran Patel and for more information please visit the Venture Finance website; watch our short company video on Youtube; and visit our LinkedIn business page.

Mobile: 07967 679 786
Email: kiran@venturefinanceuk.com

Website: www.venturefinanceuk.com 
LinkedIn: https://www.linkedin.com/company/venture-finance/ 
Youtube: https://www.youtube.com/watch?v=ycc6MDXzLSE&t=9s