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Connect Yorkshire Partner and accountancy, advisory and audit firm Garbutt + Elliott, has created a team to support SMEs with applications for the Coronavirus Business Interruption Scheme (CBILS).

The firm has assigned a specific team with more than 70 years’ experience in the banking sector. It comprises David Streather and recently appointed Neil Williams, who has joined rom Santander where he was regional director of corporate and commercial banking across Yorkshire.

Up to £5m is available through CBILS for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruption in their cashflow.

Garbutt + Elliott has also launched a free tool to complement the scheme and help the region’s businesses manage their cashflow.

Tony Farmer, head of corporate finance at Garbutt + Elliott, said: “We are experiencing truly unprecedented times and it is important that businesses have access to practical and realistic guidance on what is available.

“The economic ramifications of the pandemic are immediate and significant therefore it is vital we work together to take decisive action to help Yorkshire businesses facing hardship as a result of the outbreak.

“My colleagues and I are actively helping businesses with CBILS applications during this extremely stressful time, easing the burden and helping them to understand what is available and how to best apply.

“We can support businesses with their conversations with banks and funders, providing valuable guidance and support with the preparation of accounts, cashflow forecasts and viability statements.

“If you are unable to access CBILS we can also introduce you to alternative funders and consider other funding solutions if your existing lenders decline your request.”