CBILS – up-to-date lending statistics and other delivery updates - PKF Francis Clark
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CBILS – up-to-date lending statistics and other delivery updates

This blog is designed to accompany background information on CBILS here.

For our full guidance on making an application to CBILS please see:

Latest CBILS statistics – 23 April 2020 (from UK Finance)

£2.8 billion Amount the banking and finance sector has lent to SMEs so far through CBILS
£1.7bn (253%) Amount the total lending under the scheme has grown in the last week

 

16,624 (>100%) Number of loans have now been provided through CBILS

 

1,845 (22 April) The number of loans approved each day, increasing from 240 on 2 April

 

£170k The average value of a CBILS loan

 

36,186 Number of formal applications lenders have to the scheme from businesses.

 

The article from UK Finance also contained some additional commentary including:

  • In addition to the finance being made available through CBILS, lenders continue to provide capital repayment holidays, overdrafts and working capital extensions to help businesses manage their costs where these arrangements are appropriate.
  • The industry has also taken steps to give additional support to those businesses who are furloughing their employees. Where possible, lenders will look to provide support to firms that have successfully applied for the Coronavirus Job Retention Scheme to help them manage their cash flow while they await receipt of a grant from the scheme.

New accredited lenders –with more to come?

As indicated in our last update Funding Circle has been added to the list of accredited lenders in the past week.  According to our contact at British Business Bank there is an expectation that more lenders will be accredited shortly.

The list of accredited lenders for CBILS can be found at British Business Bank webpage.

PKF Francis Clark

We have working with our clients to access CBILS and related bank and lender support. According to my (I am sure not complete) statistics we have been working with 39 of our clients on CBILS/ Covid-19 lending propositions. Of these 10 have assessed by the lender and 9 have had lending propositions approved.

I will look to update these statistics for next week (and maybe add in some figures for facilities offered) but for now I will leave you (again) with a comment made by one of our clients to one of my colleagues:

“We do not underestimate your guidance in helping us through this process and having FC as our advisers has I have no doubt helped in gaining the approval.”

If you need help with your application – whether that is a review of what you have so far or pulling an application together from the start, please do get in touch.

FEATURING: Richard Wadman
Richard qualified as a Chartered Accountant with KPMG in 1993. Since 2006 he has worked in Corporate Finance, firstly with the predecessor firm in Truro… read more
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