Throughout October and November COVID-19, lockdown, the US elections and vaccine development dominated the news and most conversations. Meanwhile, at InterBay Asset Finance, we continued to deliver the highest possible level of service to our customers. The Coronavirus Business Interruption Loan Scheme (CBILS) continues to be a key focus for the team, as the Government announced that the Scheme will now be extended until 31st January 2021.
This is excellent news, especially given the second lockdown imposed throughout November, as it enables us to provide further financial support to smaller businesses (SMEs) across the UK that have lost revenue and seen their cashflow disrupted due to the COVID-19 outbreak.
InterBay have processed many applications for CBILS since launch and continue to see applications come through. However, the extension does mean that brokers, on behalf of their customers, have until 31st January 2021 to start an application for CBILS funding, allowing us to continue to achieve our purpose of unlocking businesses' potential during this challenging time.
The second 'lockdown’ has meant that many people have been forced to work from home again, however this lockdown differs from the first in that many more of our customers, particularly in the construction and manufacturing sectors, have continued to work through the lockdown, so that business remains strong. Businesses need our support more than ever and our team remains committed and continues to offer the highest level of customer service throughout this long winter and into, what will hopefully be, a more positive year in 2021. I would like to thank the InterBay Asset Finance team for their hard work, dedication and focus that they have all have shown during these challenging times.
Additionally, with World Kindness Day on the 13 November, I was delighted to see the acts of kindness undertaken by the team, showcasing the core values that we place of such importance, from paying for car parking for a stranger, to helping to support individuals that they have never met in seeking work in these difficult times.
Finally, the last few months have been positive from a business perspective for InterBay Asset Finance, as we have improved the way that we work on a daily basis, processing a large number of new deal applications, all of which have been done predominantly from home. This has been a challenge in itself and so, as well as our staff, I would like to extend my thanks to everyone who has supported us whilst we have made this transition, including our shareholders, our customers and our brokers, who remain at the heart of everything that we do.