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Featured - Account Types
What type of savings account do you need?Find out about the different types of savings accounts available to suit a variety of needs.
Savings
ISAs
Residential
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - Life Insurance
Life InsuranceFor peace of mind that your loved ones will be supported financially after you die, consider taking our life insurance. Find out more and compare policies.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
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We have previously reported on the lack of applications being accepted under CBILS and in April this was as low as 20%. The latest results published by UK Finance shows this has improved reaching 56% on 10 May 2020, dropping slightly to 50% on 17 May 2020. While the improvement is positive for those businesses wanting to get a business loan through CBILS, this is still behind the acceptance rate of 80% achieved for business loans prior to the Coronavirus pandemic.
So far there has been £7.25 billion lent under CBILS, to 40,654 businesses. The CBILS larger loan scheme has provided 86 loans totalling £590 million. However, this is half what has been lent in less time under the Bounce Back Loan (BBL) scheme at £14.18 billion. The latter scheme is 100% Government backed and has a simpler application and certification process. The BBL scheme was launched after CBILS and it is likely that many of the smaller CBIL loans were transferred to this scheme.
The British Business Bank has announced six new lenders joining the Coronavirus Business Interruption Loans Scheme (CBILS). This now brings the scheme to 74 lenders across business loans, asset finance, invoice finance and business overdrafts. The new lenders are:
We’ve looked at the offer from each lender to find out which business finance product they will offer under CBILS, if they will be open to applications from new customers and when businesses can apply.
Bibby Financial Services 0ffers invoice finance and has a dedicated CBILS information on its website. Businesses can make an expression of interest.
Woodsford TradeBridge and Ulster Community Investment Trust have yet to publish information about their CBILS scheme.
New customers can express their interest in a business loan to iowoca, but the lender will be prioritising existing customers first. They are offering loans of £50,001 to £250,000 over three years, with no fees to repay early. Tridos Bank UK is also providing loans under the scheme and asks those businesses that are interested to register their interest. Their website refers to contacting your relationship manager but is not explicit if it will or will not accept applications from new clients or the priority of these.
Those businesses looking for asset finance, now have an additional provider in Scania Financial Services. They will offer asset finance from £25,000 up to £5 million over terms of 12 to 72 months. Refinancing other asset finance schemes is not permitted. They have an online form businesses can complete to request more information.
Business will need to meet the minimum requirements of the scheme. Visit our guide about CBILS to find our more about how it works and how to apply.
Businesses can apply directly for a loan to their own bank or lender that is authorised under CBILS or seek the help of a business loans broker. A broker helps businesses to quickly and easily find those lenders most suitable for each business.
Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfactscompare.co.uk will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.
Britain’s GDP contracted by 0.1% in March, according to data released by the Office for National Statistics (ONS) today. “The March decline highlights the pressure the economy is now coming under from the cost of living squeeze and the danger of it falling into outright recession later this year,” said Rupert Thompson, Investment Strategist at Kingswood. The services sector, which includes contributions from education, arts and entertainment, and food service among others, fell 0.2% last month and was the main contributor to this decline.
Britain’s GDP contracted by 0.1% in March, according to data released by the Office for National Statistics (ONS) today.
While there is a wide range of commercial finance options available to businesses, few provide the versatility, flexibility and overall support package that invoice finance can.
Invoice finance provides a flexible finance option. Read more in this article.
Businesses planning to acquire plant and machinery between 1 April 2021 and March 2023 could claim the Super-deduction capital allowance to write off the cost of certain capital assets against taxable income.
Businesses planning to acquire plant and machinery between 1 April 2021 and March 2023 could claim the Super-deduction capital allowance
Britain’s GDP contracted by 0.1% in March, according to data released by the Office for National Statistics (ONS) today. “The March decline highlights the pressure the economy is now coming under from the cost of living squeeze and the danger of it falling into outright recession later this year,” said Rupert Thompson, Investment Strategist at Kingswood. The services sector, which includes contributions from education, arts and entertainment, and food service among others, fell 0.2% last month and was the main contributor to this decline.
Britain’s GDP contracted by 0.1% in March, according to data released by the Office for National Statistics (ONS) today.
While there is a wide range of commercial finance options available to businesses, few provide the versatility, flexibility and overall support package that invoice finance can.
Invoice finance provides a flexible finance option. Read more in this article.
Businesses planning to acquire plant and machinery between 1 April 2021 and March 2023 could claim the Super-deduction capital allowance to write off the cost of certain capital assets against taxable income.
Businesses planning to acquire plant and machinery between 1 April 2021 and March 2023 could claim the Super-deduction capital allowance
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.