What to Do if You are Rejected for CBILS

08 July 2020

Rejected by your bank for the Coronavirus Business Interruption Loan Scheme?

So you have been rejected by your bank for the CBILS and are unsure what your options are.

Many UK business have been rejected by their banks for the coronavirus business interruption loan scheme, with almost 50% of applications being rejected as of 5th July 2020, the statistics show that alternative options are needed.

CBILS Statistics as of 5th July 2020

  • Value of approved CBILS facilities: £11.49bn

  • Number of approved applications: 53,536

  • Total number of applications: 107,309

Though the criteria for applying for the coronavirus business interruption loan scheme is set by the British Business Bank, your high street bank still have their own internal underwriting process and qualifying criteria to follow.

Luckily, you have come to the right place, at The Funding Store we have a panel of accredited CBILS funders who have different criteria from the high street banks! Who have different qualifying criteria and risk appetite from one-another.

This is great for you, and us, as it gives us both alternative options. The benefit of using The Funding Store is that we understand our panels’ lending criteria, allowing us to put together the strongest case possible for your business to obtain the funding that it needs.

So, if you are genuinely concerned about what alternative options are out there, then you have come to the right place, we have a panel of CBILS accredited funders with varying qualifying criteria.

Contact The Funding Store today on 01908 880420, we are here to help.

Share This Story, Choose Your Platform!

What to do if you are rejected for CBILS The Funding Store

Get in touch

This article has been produced by www.TheFundingStore.co.uk for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of the information contained in this article is accepted by HPG Holdings Ltd. In all cases appropriate professional legal and financial advice should be sought before making a decision.

This article has been produced by www.TheFundingStore.co.uk for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of the information contained in this article is accepted by HPG Holdings Ltd. In all cases appropriate professional legal and financial advice should be sought before making a decision.