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Coronavirus Business Interruption Loan Scheme (CBILS)

CBILS has been extended.

Please read the criteria for the CBILS scheme and apply at the bottom of the page, or contact us to discuss the scheme further.

Launched by the British Business Bank in response to the Covid-19 outbreak, the Coronavirus Business Interruption Loan Scheme (CBILS) is designed to support UK small and medium-sized businesses who have been adversely affected by the  outbreak. It is only available through accredited CBILS lenders.

The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Key features

  • You can apply for a CBILS backed loan from FW Capital between £100,000 and £750,000
  • Repayment terms up to 5 years
  • No guarantee fee for SMEs to access the scheme
  • The borrower remains fully liable for the debt
  • The scheme provides the lender with a government-backed guarantee for 80% of the value of the loan
  • No personal guarantees for facilities under £250k. For facilities over £250k, personal guarantees may still be required but recoveries under these are capped at a maximum of 20% of the outstanding balance of the CBILS facility after the proceeds of business assets have been applied
  • Principal Private Residence (PPR) – A borrowers/guarantors PPR cannot be taken as security to support a Personal Guarantee or as security for a CBIL backed facility
  • The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments

 

Eligibility

We can provide CBILS loans in the Northern Powerhouse Investment Fund region, with a focus on:

  • Cheshire
  • Cumbria
  • Greater Manchester
  • Lancashire
  • Merseyside
  • Tees Valley

 

You must also:

  • Require a loan of between £100,000 and £750,000
  • Have an annual turnover of up to £45 million
  • Have a borrowing proposal which we would consider viable, if not for the coronavirus pandemic
  • Be able to self-certify that your business has been adversely impacted by coronavirus
  • Have not already taken a loan through the Bounce Back Loan Scheme
  • Have less than 250 employees (full-time equivalent)

 

Your business must generate more than 50% of its turnover from trading activity.

Your CBILS-backed facility will be used to support primarily trading in the UK.

You must not be a business in difficulty. For more information, please refer to the British Business Bank's FAQ's below.

 

FAQs

If you have any questions the British Business Bank has a comprehensive CBILS FAQ page.

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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). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website