16 November, 2020
We've partnered with Funding Circle to help our members get access to the Coronavirus Business Interruption Loan Scheme.
We have been doing all we can to look after our customers and colleagues through this crisis, and that's why we've partnered with Funding Circle to help our members get access to the Government-backed Coronavirus Business Interruption Loan Scheme (CBILS).
The premise behind CBILS is to offer businesses more accessible access to emergency funding to help ease cash flow worries and keep companies afloat as they contend with disruption as a result of Covid-19.
To give you some breathing space, there are no repayments for the first 12 months. The Government will pay the interest during that time and the upfront fee, helping to reduce the overall cost. If you want to settle the loan early, there are also no fees for full early repayment.
Click the button below to check your eligibility, Hoxton Mix customers should get a decision typically in 24 hours.
With rates of 1.8% – 7.4% APR and no repayments for a year, accessing funding for your business could be more affordable than ever. You could boost your cash flow, cover lost revenue, grow your business or refinance existing debt.
If you're considering a Government-backed loan, it's important to remember that the business is liable for the full loan amount. The CBIL scheme provides a partial guarantee to the lender, not to the business.