Money wow provides access to the Government Coronavirus Business Interruption Loan Scheme known as (CBILS), this offers loan assistance for UK businesses that have been affected by the Coronavirus Covid-19 Pandemic.
Minimum turnover must be £200,000 to qualify for CBILS.
Apply For £50,001 to £500,000+
(Minimum loan amount £50,000)
The Coronavirus Business Interruption Loan Scheme (CBILS) was introduced by the government to help the UK small businesses that have been affected by the coronavirus (COVID 19) to give access to finance. Using our panel of CBILS accredited lenders, Money Wow will help you find the best CBILS loans available.
To help your business along in these tough times, there will be no repayments for the first 12 months. The British Business Bank will cover interest for the first year to reduce the overall cost of the loan. If you find that you can settle the loan early, there are no penalties for early settlement.
We want to support as many businesses as we can, and will work to get your business the funding it needs during these uncertain times.
Under the CBILS scheme, the business becomes liable for the loan amount with no personal guarantees in any form below £250,000. A personal guarantee will likely be required for CBILS loans of above £250,000.
Your business turnover must be a minimum of £200,000.
The CBILS LOAN must be used for business purposes only.
Your business must be UK-Based to qualify for the CBILS LOAN.
CBILS loans can now be utilised to consolidate existing business debt.
Your business must have at least 2 years trading history.
Has your business been affected by the coronavirus pandemic.
Easy, click on the apply now button and fill in the quick application form and we will do the rest.
Typically we will require 12 months bank statements and your most recent filed accounts.
Personal guarantees aren’t required below £250,000. If you require a higher loan then a guarantee maybe required.
Several of our lending partners can achieve decisions with in 48hrs. This will also depend on your informations and documents given.
Typically 3 to 5 years but the first year you pay nothing back. 80% of the loan is government backed
Interest rates start from 2.75% APR subject to full credit approval.
Please note you will not qualify for CBILS if your turnover is less than £200,000. We look forward to getting you back up and running.
