The government are frantically putting systems in place to deliver access to the loans and grants they announced (including the 80% payment of salaries). In reality, it may take weeks until the cash hits your bank account. If you need a cash injection within the next six weeks, our advice is to seek alternative funding as soon as possible.
You can still take advantage of the government-backed loans and use these to pay off the other finance you have taken out. Some lenders are offering payment holidays, but you shouldn’t miss a payment without agreeing to it first, as this will affect your credit rating and could potentially result in default.
Experience shows that the sooner you seek funding, the greater the chance of success. If you struggled to get finance before this, you are unlikely to get funding now. We can undertake a funding search for you, please complete the short form below to help us, help you.
Help me get funding