CBIL Loan Scheme

We’re delighted to inform you that there have recently been significant advances in CBILS. (Coronavirus Business Interruption Loan Scheme). You can now borrow up to £250,000.00 completely unsecured, with no PG/DG requirement and no repayment due (capital or interest) for the first 12 months.

CBIL Loan Scheme Key Features:

  • Up to £5m facility:

    The maximum value of a facility provided under the scheme will be £5m, available on repayment terms of up to six years.

  • 80% guarantee:

    The scheme provides the lender with a government-backed, partial guarantee (80%) against the outstanding facility balance, subject to an overall cap per lender.

  • Pay nothing for 12 months:

    On all loans taken out via the CBIL Scheme have a 12-month deferral period, starting the moment you take out the facility.

  • 12 Months interest free:

    Interest for loans taken out via CBILS is absorbed by the UK Government / British Business Bank.

  • With Professional Systems Finance:

    We are one of the select few intermediaries to be accredited to work with a number of the newly accredited lenders offering no repayment at all for 12 months – the government pay the interest and there is a capital repayment holiday for 12 months.

  • No PG’S/DG’S Under £250K
  • Asset Refinance also now included under the CBIL Scheme

NB: It’s crucial given the expected high demand for loans, as seen with other CBILS Lenders, that we work closely with our SME clients to build complete & supportive applications to ensure they get approved promptly & effectively

We appreciate the High Street will be overwhelmed by the number of the applications, but the approval rate is still low. We envisage our involvement in helping clients through the application process outside of the High Street will result in much quicker decisions and incredibly favourable terms.

Details of The Loan

  • The amount you would like to borrow.
  • What the money is for – the lender will check that it’s a suitable business purpose and the right type of finance for your needs.
  • The period over which you will make the repayments – the lender will assess whether the loan is affordable for you.

Supporting Documents

You will need to provide certain evidence to show that you can afford to repay the loan. This is likely to include:

  • Management accounts
  • Cash flow forecast
  • Business plan
  • Historic accounts
  • Details of assets

The above requirements will vary from lender to lender. If you don’t have everything listed here, a CBILS loan could still be an option!

Note: For many customers approaching their existing lenders for a smaller facility. The process may be automated and therefore may not require the same level of documentation.

Follow a manual added linkFollow a manual added link

For more information on what the CBILS loan scheme can do for your business give us a call or click below to start your application.

cbil loan scheme