Applications for the CBIL Scheme are open to existing business customers and accredited intermediaries only.
Who can apply?
- Existing customers wishing to borrow between £50,001 and £500,000 can apply for term loan and asset finance facilities under the scheme
- Accredited intermediaries working with SMEs wishing to borrow between £50,001 and £500,000 can apply for asset finance facilities only under the 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