Coronavirus Business Interruption Loan Scheme (CBILS)
These are unprecedented times and we find ourselves in an exceptional situation affecting all facets of society and it is unclear how long this will continue. This is a difficult time for entrepreneurs and businesses and some sectors are hit hard. At ABN AMRO we are doing everything in our power to support our clients, partners and businesses alike. We know this is a challenging time for you, your customers and your families and we remain committed in our mission to support you.
What measures will we as ABN AMRO Commercial Finance take for our clients who face problems due to the Coronavirus?
For businesses affected by the Coronavirus, ABN AMRO Commercial Finance are putting in place a range of measures to support our clients on a case by case basis. For additional information please contact your Relationship Manager, who will be happy to discuss this with you.
What measures have we taken to stop the spreading of the Coronavirus?
To reduce the risk of the Coronavirus spreading and help ensure continuity of our service, we have reduced team presence at our offices and increased remote working. Rest assured that the necessary tools are in place to ensure continued, smooth operation of facilities and our service levels
What measures is the government taking that businesses may be able to use?
On March 11th during Budget 2020, the Chancellor announced that a ‘Coronavirus Business Interruption Loan Scheme’ (CBILS) will temporarily replace the Enterprise Finance Guarantee (EFG).
CBILS will operate in a similar way to the EFG and be provided by the British Business Bank, but will offer more attractive terms for both businesses and lenders, with the aim of supporting the continued provision of finance to UK businesses during the Covid-19 outbreak. ABN AMRO Commercial Finance are working with the British Business Bank to support the CBILS for our clients and further information about the scheme can be found here or by speaking to your Relationship Manager.
Where else can businesses go with questions about how to act in situations related to the Coronavirus?
Businesses can find general information from the UK government here.
UK Finance has also created a guide ‘Let’s talk business – Covid-19’ as a starting point for businesses looking for assistance. More information can be found here.