As news continues to trickle out about the UK Government supported lending scheme we’ll continue to update you.

All the major high-street banks are signed up to deliver the scheme and so if you have a strong business and a good relationship with your bank then they should be your first port of call.

Your bank will have relaxed their lending criteria somewhat but they are by no means “giving money away”;

https://www.bbc.co.uk/news/business-52043896

There are some 40 lenders in the scheme so if your bank is unable to assist then there may well be another option.

Your Acorn.finance advisor team is working closely with our whole panel of lenders to keep abreast of which lenders are still lending and which have shut up shop. Contact us now and Save your business.

UPDATE – 15/07/2020

After a busy few months things are calming down on the CBILS applications

As previously the first port of call should be your bank if they are on the British Business Bank list of accredited lenders.

If you bank with Tide, The Acorn Account, Monzo or other providers who are not on the list of providers of CBILS loans then we have a number of independent lenders who will work with us to provide a loan either under the scheme or on normal criteria so your business is not disadvantaged in any way.

You can also apply for more than one CBILS using different providers, so if your bank came back short of your requirement it might be worth exporing with one of our experts.

UPDATE – 26/03/2020 14:00

This just in from one of the high-street banks, I’d expect the others to be broadly similar;

They are asking for their normal lending requirements;

Considering some of that information will not be easy to come by some of our customers are opting to work with non-CBILS lenders, forgoing the payment holiday and instead working with lenders who can approve and have funds ready to draw down within days.

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