Changes To CBILS Eligibility Criteria

There have been significant changes to the eligibility criteria for businesses applying for the Government backed Coronavirus Business Interruption Loan Scheme (CBILS).

  • Lenders will be banned from requesting personal guarantees on loans under £250,000.
  • For loans over £250,000 personal guarantees will be limited to 20% of any amount outstanding on the CBILS lending after any other amounts have been recovered from business assets.

With 50% of CBILS applications being declined by lenders, these changes mean that more businesses will be able to access this fund – now may be the time to re-apply or take a CBILS top up.

Call 01242 395 507 or email hello@acornbusinessfinance.co.uk to find out your eligibility today.

Eddie

Eddie

Eddie brings a wealth of experience and knowledge from the finance sector.
Since building up and successfully selling on his own vehicle leasing brokerage, he joined Acorn Business Finance 5 years ago as a consultant covering the North of the country. Based in South Cheshire, he is ideally located to assist SME clients
around the whole area. 

He enjoys building long term relationships with clients and helping them achieve their targets by providing creative funding solutions and watching their businesses grow. Outside of work Eddie enjoys escaping to North Wales to get wet and cold up various mountains, sampling some good food and beer once he gets down again, and spending time with his family – mainly chasing his 2 young sons around.