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CBIL and Bounceback - drawing down?
vakemble
Posts: 2 Newbie
Does anyone know if it is an option to apply for CBIL or Bounceback and then only draw down the money when needed?
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Comments
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You can only have CBILs or BBLS, not both.
As I understand it, the loans are paid out when applied for. Hold the funds in the business account and then draw form there when needed. BBLS is open until November, so no need to rush if the funds are not required straight away.0 -
If you delay before applying, bear in mind that the loan has to be arranged with the lender by 4 November 2020. Don't leave it too late to start the process.1
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What is this 4/11 date?0
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Current deadline to apply for BBLS.0
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