Myth-busting – Electrical Safety installations Act 202011:19 AM, 3rd August 2020
About 3 days ago 54
Has anyone else heard of the Government’s CBILS scheme paying out to developers?
I spoke to a broker last week who was waiting for an announcement that CBILS was being widened out to cover developers too, but I haven’t heard of any developers getting one yet.
Many thanks Groover
Editor’s Notes: >> .Gov guidance
You can apply for a loan if your business:
You need to show that your business:
If you want to borrow £30,000 or more, you also need to confirm that your business wasn’t classed as a business in difficulty on 31 December 2019.
Who cannot apply
Businesses from any sector can apply, except:
How to apply
There are over 50 lenders participating in the scheme including all the main retail banks. You should approach a suitable lender yourself via the lender’s website.
You’ll need to tell the lender:
You’ll need to provide documents that show you can afford to repay the loan.
These may include:
The documents required will vary from lender to lender and depend on how much you’re asking for. If you’re asking your existing lender for a small loan, the process may be automated and not require all of the documents.
The lender will check that the loan is:
The lender will decide whether to offer you a loan or another type of finance and you’ll be responsible for repaying 100% of the amount borrowed.
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