Coronavirus – CBILS

Funding11 is open to for all existing and new clients and will remain available. We know the situation is pretty difficult right now. With new government guidelines every couple of days and an unpredictable few months ahead of us, feeling a little nervous about your finances is perfectly understandable. Rest assured that Funding11 is active, and will remain open, regardless of how the coronavirus pandemic grows. Our team works tirelessly to provide essential support and funding for the SME sector and real estate investors across the UK.

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How we can help existing and new clients?

Funding11 has relations with lenders involved in the Coronavirus Business Interruption Loan Scheme (CBILS), supplied by the British Business Bank. We also have access to other lenders, during this time which can provide the business loans. The Coronavirus Business Interruption Loan Scheme (CBILS), supplied by the British Business Bank, is now available to assist small and medium-sized companies in accessing up to 45 Million turnover funds.

Funding11 partnered with the major lenders to understand exactly what details they need to approve your application. We will help you with all the details your lender needs, in the format, they need to process your application quickly. We want to make sure that your proposal maximises the Government’s support. We have work knowledge of the financial institutions in the scheme. We will help you draw up a business plan to achieve the repayments that would be appropriate to the lender.

Protection would include certain loans over £250,000 backed by the CBILS. We can help you negotiate with your Lender the structure of this security and its interaction with existing facility providers to ensure that your exposure is minimised to the extent practicable, especially about Personal Guarantees. We understand that you may have stressful things to handle in your company and that is why we will manage a lot of this phase to free up your time for you.

We will apply on your behalf to lenders as defined by the British Business Bank. Demand is expected to be high to take longer to process applications without well-considered proposals and detailed supporting details, please include all necessary documentation and a written proposal with this in mind CBILS funding requires you to be able to prove that if it were not for the COVID-19 pandemic, the lender would consider your application for funding workable. To be successful, a clear case with supporting information will need to be set out to lenders.

If you are awaiting the outcome of a CBILS application and you have a more urgent need for funding, or you are not receiving government help, please do not hesitate to contact Funding11 to explore more options available.

Benefits of CBILS

  • No personal guarantees for facilities under £250,000
  • First 12 months interest paid by the government
  • Spread cost of monthly repayments over 6 years
  • Lower rates
    of interest
  • 80% government guaranteed to the lender

Have Any Questions Regarding Our CBILS?

How can I apply?

You can apply by calling us and we aim to provide you with an approval within 1 week due to the demand for the product.

Who can apply?

Our existing and new clients both can apply.

Do I need to prove that I have a viable business when i apply for CBILS?

Yes, In your borrowing request, you must prove that if it were not for the COVID-19 pandemic, the lender would consider your business viable, and for which the lender assumes that the financial provision would allow your business to trade out of any short to medium-term difficulty.

Why I cannot apply online for CBILS?

This is a temporary product currently so we are only taking applications over the phone.

Apply online. It will only take a minute and will not have any impact on your credit score.