Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme (CBILS)

Coronavirus Business Interruption Loan Scheme

We are accredited under the Coronavirus Business Interruption Loan Scheme and we are accepting applications

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Find out more about the scheme below including information on eligibility and the things required for your application.

What is the Coronavirus Business Interruption Loan Scheme (CBILS)?

The CBILS (Coronavirus Business Interruption Loan Scheme) is an initiative created by the government for small and medium businesses across the UK that have sadly been impacted by Coronavirus. By utilising this scheme, UK businesses can have access to help with cash flow during this period.

This scheme provides lenders like us with a government-backed guarantee that potentially enables lenders to lend to businesses that might not have previously been eligible for a loan, helping those businesses through the Coronavirus.

The scheme also covers the first 12 months of interest payments and fees meaning that smaller businesses can benefit without upfront costs and lower initial repayments, which are a concern to many during this time.

Do you meet the following criteria?
  • Are you a UK based business?
  • Is your annual turnover less than 45m?
  • Is more than 50% of your turnover from trading activity?
  • Do you require flexibility of payment terms?
  • Do you hold 3 years of trading history?
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What do I need?
  • Business bank statements for the last six months including:
  1. The account name and registered address
  2. Your sort code and account number
  3. All daily transactions
  4. At least 6 months history
  • Latest full unabbreviated accounts including:
  1. Detailed profit and loss
  2. Balance sheet information
What happens now?

If you feel the Coronavirus Business Interruption Loan Scheme is something that will benefit your business, or you would simply like to know more, send us an email by clicking the button below or using: info@businessfinance-v4b.co.uk.

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The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bankwebsite.

Please note that, as with any other commercial transaction, the borrower is always responsible for the repayment of the full value of any facility supported by CBILS. The government-backed guarantee is to the lender and not the small business. Any queries about an active or historic EFG facility, including guarantee fee collection and alterations to their repayment profile should be raised with the lender, and not the British Business Bank.

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