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As of August 9th, just over 59,000 businesses have been approved for the CBILS facility totaling £13.4bn – a sum moving ever so slowly considering the majority of SMEs make up an overwhelming population of the 6 million businesses in the UK economy. Although financial institutions, the government, and the British Business Bank have collaborated to provide access to different forms of business credit – is there more than can be done to support neglected businesses that are promising enough despite being at the pre-profit stage and even seasoned businesses still trying to turn the corner?
As CBILS nears expiration by September 30th, business lending specialists have an obligation to help maximise the chances of successful lending for their respective business clients, provided there’s a strong case to be made for participating lenders’ consideration.
While the exact contents of a funding proposal will vary and tailored individually, any business needs to have clear answers to these credit queries:
There’s no doubt these are unprecedented times, but it goes without saying that it’s worth covering all the bases that lenders will expect to see in your proposal for emergency lending.
Beyond the 105 CBILS accredited lenders preoccupied with emergency loans, there are many specialist lenders that have an appetite to cater to pre- and post-profit businesses seeking to maximise their market share. This is where knowledgeable funding advisors match your growth objectives with the most optimal lending solutions in a very fragmented debt market.
FundingSmiths is an independent credit partner for growth-driven SMEs seeking structured working capital solutions. Our focus is to constantly think ahead and not just settle solving your immediate commercial objectives. If you would like to discuss your growth plans in more detail, we’d love to hear from you. Please email email@example.com or book a call to discuss further.