Simply receives an increase in Coronavirus Business Interruption Loan Scheme (CBILS) allocation from the British Business Bank
Simply, the SME funder, today announced that it has received an increase to its allocation under the Coronavirus Business Interruption Loan Scheme (CBILS). With this addition, Simply aims to support SMEs in the UK that have been impacted by the pandemic.
Accredited by the British Business Bank as a lender under the Coronavirus Business Interruption Loan Scheme, Simply can offer asset finance facilities of up to £5m to SMEs across the UK who are or have experienced lost or deferred revenues, leading to disruptions to their cash flow.
Mike Randall, CEO of Simply, commented: “Over the last 12 months we have witnessed the resilience and innovative spirit of the UK SMEs to weather this storm. SMEs are the lifeblood of the UK economy. Their passion to find a way to protect their businesses has been nothing short of heroic and we are proud that we have been able to help by providing funding to them. CBILS allows us to bring a way forward to SMEs.
We are honoured to be accredited by the British Business Bank and be trusted to help CBILS into the market.
We are here for UK business come rain or shine, and look forward to the coming months when we can help and assist many more SMEs in driving what happens next.
Let’s get to work.”