Coronavirus Business Interruption Loans – “CBILS”
We are able to consider applications for CBILS and have alternative options from several different lenders. These include both unsecured loan and asset finance options.
Eligibility
Advances £50k – £250k
- UK based limited companies who have been adversely affected by Coronavirus issues.
- Business currently viable.
- Loan must be for business purposes.
- Loan to support trading in the UK, not for export.
- If you have a Bounce Back Loan this will need to be repaid. It is not possible to have both.
Features
- No repayments or capital only for the first 12 months.
- The interest and fees for the first year are paid by the government.
- The government provide the lender (not the borrower) with a guarantee of 80% of any loss.
- Maximum APR= 9% (usually around 6%-7%).
- No personal guarantees
Information Required
- Completed application form.
- 2 years certified accounts.
- 6 months bank statements