If your business had a CBILS loan when they first became available, you are probably not far away from having the repayments kick in. It's fair to say that the country being in Lockdown at this stage was perhaps not a consideration at the time and so there was an expectation businesses would be in a position to commence those payments without significant issue.
It hasn't really worked out like that for some businesses. With non-essential outlets currently closed and often relying on internet or telephone sales, many are still finding life too hard.
At the moment it's still quite early to gauge lenders reaction to a lower level of performance than expected, and each lenders view is likely to be different. If you are starting to think that things are not going to pan out as you'd hoped, and there are capital repayments on the horizon, give us a call.
We reduced all our fees at the start of the pandemic, the initial discussion is always free of charge anyway, and we are entirely focussed on providing the support you need, not just being another cost.
If we can help we will, and if we can't we'll tell you and cost you nothing.
Comments