The Coronavirus Business Interruption Loan Scheme (CBILS), delivered through British Business Bank accredited lenders and partners, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
Key Features of CBILS:
- Coronavirus Business Interruption Loan Scheme (CBILS) loans from £100k – £250k*
- Loans are typically 1-3 years, bespoke repayment profiles will be considered.
- Interest rates 9% fixed p/a with first 12 months met by the UK Government via the CBILS scheme.
- Arrangement fee of 1.5% which will also be covered by the UK Government via the CBILS scheme.
- No personal guarantees will be required for CBILS loans up to £250k.
For more information:
Midlands based businesses visit: https://www.thefsegroup.com/fund/midlands-engine-investment-fund-debt-finance/
London based businesses visit: https://www.thefsegroup.com/fund/greater-london-investment-fund-glif/
*The maximum CBILS loan amount available via the Fund has been established by the Fund Manager in the context of the expected use of CBILS loans (as detailed in this website) and the desire to offer the limited CBILS capacity across a number of SMEs. Other CBILS lenders may offer larger amounts. Minimum CBILS loan amounts reflects minimum loan requirements of the fund.
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 at: www.british-business-bank.co.uk/CBILS