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CBILs scheme has been extended until 31st March 2021

BBB    This allows more time for you to provides you work on increasing your cash flow. Statistics released on 17 December 2020 show £19.64 billion loaned to 82,618 businesses, although there have been 186,522 applications! We can make the difference presenting the complete package of information in the right way first time to help clients gain approval. Best practise advice to our clients remains that they should provide 3 way forecasts, which either the forecasting team or Corporate Finance can help with.

The Bounce Back Loan scheme and the CLBILS (large business scheme) will also be available until 31st March 2021.

However, please note that the Future Fund (the matched funding convertible loan scheme for high growth businesses) currently only remains open for applications until 31st January 2021. For interest as of the 13th December 2020 £975.5m of Future Fund loans had been approved for 971 companies. 

Support for retail, hospitality and leisure sectors

Cocktail    Businesses within these sectors are to receive one-off top up grant worth up to £9,000 per property depending on rateable value to help support businesses through to the spring. Although the scheme is welcome news for businesses within the sector they should also be looking at their cash position and revise their forecasts following last night’s news to see if they can survive.
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