ChiChi Osemwegie, Business Development Manager for RxBridge, provides an important update to all those considering a CBILS application.
The number of UK firms approved for and benefiting from CBILS is now over 60,000. £13.6 billion pounds worth of CBILS have been delivered to UK businesses to help them endure the Coronavirus pandemic.
One of the biggest challenges facing pharmacy business right now is cashflow. There is a huge demand to source medication and we’re seeing wholesale prices steadily increasing as there is a greater demand on supply. The absolute priority for all pharmacy businesses is to look after their customers and that is where their focus should be.
Accredited lenders have now been given two extra months to consider applications for finance under CBILS. The scheme was initially due to end on 30th September 2020.
Following widespread calls for an extension, the British Business Bank has clarified that lenders can now have two extra months to consider and approve applications.
CBILS applications will close on the 30th of September 2020. With CBILS, there are no (interest fee) payments due for a year and RxBridge experts are happy to help you throughout the process.
Pharmacies will be vital in the UK’s fightback from COVID-19 and must consider their financial position today. RxBridge are experts in pharmacy finance and we are excited to be able to offer an alternative option to continue to support pharmacy businesses.