The Coronavirus Business Interruption Loan Scheme is now closed to new applications.
CBILS applications received by 23.59 on 31 March 2021 can still be processed through to 31 May 2021.
If you have a query about CBILS or wish to discuss an outstanding application, please contact [email protected]
Recovery Loan Scheme
A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme, which will open on 6 April 2021, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports a maximum facility size of up to £10m with minimum facility sizes starting at £1,000 for Invoice and Asset Finance and £25,001 for Term Loans and Overdrafts.
Further information can be found at www.paragonbank.co.uk/recovery-loan-scheme.
Paragon is an accredited member of the British Business Bank’s Coronavirus Business Interruption Loan Scheme (CBILS), designed to support UK SMEs during the Covid-19 outbreak.
The scheme enables Paragon to provide term loan and asset finance facilities to UK SMEs who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk.
Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website at:
www.british-business-bank.co.uk/CBILS