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Government supported loans are closing

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CBILS are closing – deadline for completion

The CBIL scheme is closing on 30th September 2020.

The guidance from the British Business Bank is below:

With effect from the 1st July, all CBIL transactions will be time bound for completion 3 months post sanction up to the closure of the scheme.

For example, a CBIL Loan sanctioned on 15th July must complete by 15th October. Similarly, CBILs sanctioned on the 5th September – must complete by 5th December.

 In all instances, the final date in which a deal must be sanctioned by is 30th September 2020, and there is a 3 month deadline for completion post sanction.

So if you are considering applying please don’t delay.

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