What is the Coronavirus Business Interruption Loan Scheme?
Coronavirus Business Interruption Loan Scheme (CBILS), delivered through British Business Bank accredited lenders and partners, is designed to support UK-based small businesses through the COVID-19 crisis.
Lending under CBILS is partially guaranteed by the government, which allows small business lenders, like Capital on Tap, to lend to businesses that might not have previously been eligible for a loan, due to the effect COVID-19 has had on their business.
In addition to the guarantee to the lender, the government will also pay any interest or fees charged in the first year, so small businesses can benefit from no upfront costs and lower initial repayments.
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