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.