At Business SOS we can take away the hassle and stress you may experience in applying for the Government financial assistance packages. Ensuring you maximise on your full entitlement. The schemes currently available to you are:
Bounce Back Loan Scheme (BBL)
The Bounce Back Loan (BBL) scheme helps smaller businesses and sole traders quickly access the well needed finance by filling in a simple form online with an accredited lender.
Under the BBL scheme, businesses can apply for loans of between £2,000 to £50,000, up to a maximum of 25 per cent of a firm’s annual turnover.
There are no interest payments due in the first year and there after the interest is as low as 2.5%.
Coronavirus Business Interruption Loan Scheme (CBILS)
The Coronavirus Business Interruption Loan Scheme (CBILS) was announced by the chancellor on 11 March. Since then however it has been developed and extended to businesses with a turnover of up to £45 million.
CBILS can be used to support the provision of a number of different types of finance facility, including overdrafts, loans, asset finance and invoice finance.