AIB (GB) wins approval for CBILS cash

Allied Irish Bank (GB) has been approved for accreditation by the British Business Bank as a new lender for the government backed Coronavirus Business Interruption Loan Scheme (CBILS).

Over the last six weeks, the banks says it has experienced a “significant surge” in customer calls and queries, having responded to over 16,000 calls in the last four weeks alone. Over 600 business customers have requested extra support with 99.5% of all applications to date receiving approval. This support has included payment holidays on loans, overdraft extensions, working capital facilities, relaxed covenant terms, loans and overdrafts. This activity was carried out before the bank’s accreditation to CBILS by the British Business Bank.

Tony Kelly, regional director, Midlands and North England at Allied Irish Bank (GB), said: “We are constantly looking at ways to support our customers during these difficult times and it is great news that we are now in a position to deliver CBILS support. As the situation evolves, we can assure customers that we will remain flexible in our response and continually review our services as necessary, always putting their needs and safety at the forefront of our thinking.

“Our amazing staff have been keen to help and are also developing various creative fundraising methods to support the ‘AIB Together’ initiative. What’s more, the bank has given £1,000 to every one of our business centres and branches to donate to a charity of their choice.”