Good news from the Government that the various emergency loans schemes are being extended, so that applications can now be made until the end of January. This can incorporate new and increased requests; and often involve applying for the larger CBILS scheme and repaying a Bounce Back Loan following successful approval, providing net new cash into the business.

I am reminded of the need for business owners to develop a senior sponsor within the Bank. With the weakening of authority of the traditional bank manager, and more latterly the Relationship Manager; the ability to achieve support for a business outside of standard credit policy is challenging.

You need a senior individual inside the Bank who will champion your cause in difficult times, and that means understanding the hierarchy within the bank and building a relationship at an influential level. Using these escalation tactics will prove hugely useful when you hit a bump in the road.

It has proved useful to me in a number of the CBILS applications, and I am grateful for the help from my large network of bankers who I have known and worked with over many years – often turning an initial decline into an approval.