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Update: Taxi Firm Support with Coronavirus Business Interruption Loan Scheme 2021

Taxi firms in Middlesbrough, Stockton, and Redcar and Cleveland - Teesside  Live

About the Scheme

The CBILS (Coronavirus Business Interruption Scheme) has been developed by the Government in order to help smaller UK businesses, including taxi firms, which have suffered due to the pandemic. The scheme offers financial support to companies for lost revenue.

CBILS is operated by the British Business Bank, which has over 100 accredited lenders, these include:

There are brokers available whom can help organisations that are looking to apply for CBILS to find lenders that are most suited to their company.

Each lender can offer up to £5million in the form of:

Who Qualifies for CBILS

There is a list of criteria which businesses must meet in order to qualify.

How Can CBILS Help Taxi Firms

If your taxi business has suffered as a direct impact of the global pandemic, you are likely to be considered for one of the below options. Also, it’s important to take advantage of them whist the scheme is available. You could use the money to improve your service, perhaps by allowing customers to book taxi online.

Right now, the deadline in which to apply is 31st March 2021, having been further extended.

Help to Taxi Fleets Might Include:

Businesses who previously took out a CBILS but are still struggling, can now also apply for an additional loan to supply the additional capital they need, subject to matching criteria.

It is crucial to get your application in as quickly as possible in order to see if your business is eligible. You only have up to the end of March 2021 to get your Coronavirus Business Interruption Loan Scheme applications in.

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