Coronavirus Business Interruption Loan Scheme (CBILS)

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.
• The scheme provides the lender with a government-backed guarantee for 80% of the value of the loan.
• No guarantee fee for SMEs to access the scheme.
• The borrower remains fully liable for the debt.
• 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

To apply for a CBILS loan through FW Capital you must be based in:

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

We can also support businesses based in Yorkshire and Humber

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 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

The British Business Bank has a comprehensive CBILS FAQ page.