Delivered through British Business Bank-accredited lenders, CBILS is designed to support the continued provision of finance to UK smaller businesses during the COVID-19 outbreak

Businesses across Liverpool city region are being urged to get their applications in for the Government-based CBILS coronavirus loans as the deadline looms.

CBILS-backed loan applications must be submitted by September 30 and FW Capital is urging businesses to make their applications in time for its Northern Powerhouse Investment Fund loans. They are echoing calls already made by MSIF and Bathgate Business Finance.

Delivered through British Business Bank-accredited lenders, CBILS is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the COVID-19 outbreak.

The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Through CBILS, FW Capital is able to lend between £100,000 and £750,000 to SMEs that have been impacted by COVID-19, leading to disruptions to their cash flow. Both new and existing customers are eligible to apply.

FW Capital can provide loans in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside and the Tees Valley.

The reminder to apply comes as the total amount of CBILS-backed NPIF loans invested by FW Capital passes the £10m milestone. The loans were given to 33 businesses through two funds covering both the Tees Valley and Cumbria and the North West.

Gary Guest, FW Capital’s fund director in the North West, said: “The FW Capital team has done a remarkable job in swiftly channeling £10m to SMEs across the North as they face the most profound challenge of our generation.

“The scheme is still ongoing and we would encourage any interested businesses to submit their applications well in advance of the September 30 deadline as applications received after this cut off will not be eligible for CBILS funding.”