Sanders provides direct access to the Government Coronavirus Business Interruption Loan Scheme (CBILS), which offers regulated loan assistance for UK businesses affected by the Coronavirus Covid-19 Pandemic.
– Loans available up to £5 million;
– Panel of over 40 UK Lenders;
– First Year’s Interest paid by Government
– Further 12 months of Capital payment holiday
– Lender & Government Arrangement Fees Covered;
– Loans and Asset Finance up to 6 Years;
– Overdrafts and Invoice Finance up to 3 Years;
– Government backed 80% Loan Guarantee;
– Unsecured Loans up to £250k;
– Loans up to 25% of 2019 Turnover, or double wages;
– UK Small Business, turnover up to £45m.
Sanders Finance have a broker panel of over 250 banks and lenders. Out of these existing institutions, over 40 of our lenders are currently authorised to access the Coronavirus Business Interruption Loan Scheme (CBILS). With Sanders, we can locate the most suitable lender for your individual circumstances, drawing from High St Banks, Challenger Banks, Peer to Peer funds, and specialist lenders – eg Asset Finance, Debtor Funding, Business Loans etc.
We can arrange loans of up to £5m, however there is an upper limit which is equivalent to either 25% of last year’s turnover OR twice your wages costs (whichever is the greater).
The main benefits of the CBILS Scheme are that the Government will pay your interest for the first year, and you can have a capital payment holiday of up to 12 months. In addition, the Government will secure 80% of the debt with the lender.