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Coronavirus Business Interruption Loan Scheme (CBILS)

CBILS is a Government backed scheme that can provide facilities up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. CBILS supports a wide range of business finance products.

The scheme provides the lender with a government-backed partial guarantee (80%) potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.

CBILS Key Features

CBILS guarantees facilities up to a maximum of £5m available on repayment terms up to six years for term loans and asset finance. For overdrafts and invoice finance facilities, terms will be up to three years.

There is no personal guarantee requirement or fee for SME’s to access the scheme. The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees.

You will therefore benefit from no upfront costs, lower interest rates and postponed initial repayments. Our lenders offer an additional principal payment holiday, so the first instalment will fall due 13 months from draw-down, providing time to get British business back on its feet.

At the discretion of the lender, the scheme may be used for unsecured lending for facilities typically in the region of £50,001 to £250,000.

Bounce-Back Loans (BBL)

Further to launching the CBILS scheme, smaller companies and sole traders can alternatively now apply for a BBL, operated by a number of accredited providers. The maximum facility is £50,000, calculated at 25% of the prior years’ turnover in the business.

For more information start your application here, visit the British Business Bank, or call us to discuss your situation on 01234 860617.

CBILS Infographic

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British Business Bank Announces Coronavirus Business Interruption Loan Scheme (CBILS)

CBILS is a new scheme that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. CBILS supports a wide range of business finance products.

The scheme provides the lender with a government-backed partial guarantee (80%) potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.

CBILS Key Features

CBILS guarantees facilities up to a maximum of £5m available on repayment terms up to six years for term loans and asset finance. For overdrafts and invoice finance facilities, terms will be up to three years.

There is no guarantee fee for SMEs to access the scheme. Lenders will pay a fee to access the scheme. The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees.

You will therefore benefit from no upfront costs and lower initial repayments.

At the discretion of the lender, the scheme may be used for unsecured lending for facilities of maximum £250,000.

Primary Residential Property cannot be taken as security under the scheme.

If the lender can offer finance on normal commercial terms without the need to make use of the scheme, they will do so.

Please note: It’s important that you are aware that you, the borrower, will always remain 100% liable for the debt. The CIBLS guarantee is to the lender, not the SME.

DOWNLOAD INFO FROM

START YOUR APPLICATION NOW

Be Aware

There are unscrupulous people who are phishing data – always ensure that you only work with accredited organizations.

We are FCA regulated – ref 766217

We are members of the NACFB member

Your data is safe and secure using an encrypted protocol between your browser and our website.

WE ARE HERE TO HELP

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