£1 billion in support for businesses most impacted by Omicron across the UK
The government has recently revealed that there will be specific support for businesses impacted by Omicron: From the GOV.UK website: “These additional measures will reinforce the existing package of business support, including: If you have been impacted by the Omicron variant, get in touch with the team at Funding Bay for access to the Recovery […]
How many businesses will struggle to pay back CBILS?
The Coronavirus Business Interruption Loan Scheme was introduced in Spring 2020 by Chancellor Rishi Sunak. With the pandemic in its infancy, and a full lockdown just announced, the advent of an interest-free loan opportunity for UK businesses was necessary. The purpose of this scheme was to provide financial support to UK SME’s in the form […]
How is the Recovery Loan Scheme different to CBILS?
The very popular Coronavirus Business Interruption Loan Scheme (CBILS) came to its deadline on the 31st March 2021, and in its place, the new Recovery Loan Scheme (RLS) was launched, coming into effect on 6th April 2021. The RLS is currently set to run until December 31st, and you can apply if your business have […]
The End Of Bounce Back and CBILS Loans
In the latest budget announcement, Chancellor Rishi Sunak confirmed that the Bounce Back and CBILS loan schemes will indeed finish on March 31st. These schemes are to be replaced by a new ‘recovery loan scheme’ until the end of the year. The new replacement recovery program is light in detail at this stage but is […]
British Business Bank CBILS : Power Systems International
We hear from one of our clients, Paul Berry, Managing Director, at Power Systems International, about how their CBILS loan has helped revitalise their business. How did Covid-19 impact your business, and why did this mean you needed funding? The impact of COVID has evolved throughout the pandemic and through the various lockdowns. In the first […]
