Apply today for a CBILS loan
The CBILS Loan Scheme has been extended, which means we can help many more businesses like you!
The new deadline for applying for a CBILS loan is January 31st. If your business is likely to need funding this year, apply now before it is too late.
Working in partnership with the British Business Bank, we are here to help small businesses who need it most to survive and thrive during this challenging period and into the future with government backed CBILS loans of between £50,000 and £100,000.
AskIf is a friendly, human and approachable lender, we are keen to give your business the boost it needs. Contact us today and find out how we can help you.
SUPPORTING THE GROWTH OF UK SMES
Our approach to finance is different and for good reason. We’ve put people at the heart of what we do to drive real change for ambitious small businesses, delivering true economic value and job creation across the UK.
We became frustrated by other lenders holding back the growth of small businesses due to inflexible rules and a focus on the past rather than on what’s ahead. Inclusivity is core to everything we do and we focus on the future potential of the businesses we support.
The AskIf process combines invaluable human interaction with robust data analytics to help small businesses secure the vital finance they need to grow.
How we do it
We believe people come first. Our technology and process unlocks funding where others cannot.
Too often credit-worthy businesses are failing to secure the funds they need to grow. Unlike mainstream lenders, the AskIf approach is not over-reliant on algorithm-driven thinking. We like to get to know our customers and to understand the needs of their business, this enables us to turn a no into a yes.
It is our mission to foster entrepreneurship and help grow the UK economy, we were in the first group of lenders accredited to deliver CBILS in March 2020, a clear testament to our role in helping UK SMEs when they need it most.
We are a diverse and inclusive team and one of the few female-led Fintechs in the UK. We are committed to supporting businesses from across all communities in the UK and monitor our reach to identify any areas where we can improve diversity amongst our borrowers.
An Askif Application Has Three Steps
10 minutes of your time and gives our team the core information about your business.
You will be contacted by a lending manager via telephone who will support your application.
Your application will be reviewed and you will be notified if approved or declined.
Red Hamper“In July our turnover soared from £35,000 to £90,000. Without the CBILS loan, I would’ve lost thousands of pounds worth of orders because I didn’t have the facility to service those orders” Red Hamper is an independent family-run business supplying a wide range of luxury basket ware, based in the heart of the Wiltshire countryside. With a global customer base, the business sells through Amazon, Wayfair and their own eCommerce website. When the Covid-19 pandemic hit, Red Hamper felt the… Read more
Plexus Innovation“CBILS funding helped us rapidly redevelop our core technology to help care homes in the North East under siege from the effects of Covid-19” Plexus Innovation is a technology innovator that has developed a remote measurement system: GUARDIAN ® enabling ‘real time’ capture of compliance and condition data across a wide range of facilities. GUARDIAN ® is a digital alternative to manual measurement that reduces costs and risk, whilst monitoring critical functions in environments like care homes, sheltered and social… Read more
Frequently Asked Questions
What to expect in your loan application
To kick off your application you will be asked a few basic eligibility questions, to provide contact details and topline info about your role in the company.
You will then be asked to register and verify your account. Once registered and verified, you can start the loan application process.
Typically this takes no more than 5 minutes to complete.
2. Online application
You will be asked to provide more detailed information about your company and purpose of the loan and be matched with your dedicated loan manager.
Your loan manager will then decide what additional info they may need to assess your loan application and will support you through the rest of the application.
Typically this takes no more than 10 minutes to complete.
How much could my business borrow?
You can apply for a loan from £50,000-£100,000 over a term of 6 months to 5 years.
It’s important that you can afford the loan repayments.
The loan manager may help you decide the right amount to borrow, based on your business plan and growth ambitions.
Our loan managers specialise in supporting lending to companies who have been declined credit from banks.
Additional information you could be asked for
1. Company Data
We will ask for information about your business and where available auto complete from a link to Companies House. You will need to check all details are correct, amend and/or fill any gaps. If your business is not registered at Companies House, you may complete this section manually.
2. Key Person(s)
We will ask for the names and e-mail addresses of the key person/s of the business including: directors, trustees, partners, owners/major shareholders of the company. We will send each individual a declaration form by e-mail which will require their consent to undertake identity and credit checks that will leave a hard footprint on their credit report.
We will ask for the amount your business wants to borrow and what the money will be used for. We will also ask if you have already been declined for a loan and further details about this, which helps us match you to specific loan funds.
4. Additional Information
Your dedicated loan manager will ask for further information about your business., such as understanding your business plan. You will receive help and support and all request and information will be shared securely through your online portal at your own convenience and pace.
5. Notification of Decision
Your dedicated loan manager will keep update you about the progress of your application and inform you of the decision. If approved, you can use your account login to access the relevant loan offer documentation. If declined, they will explain the reason lending was deemed too risky.