4 October 2020
CBILS is a new temporary measure only. After the end of the epidemic or stabilization of the situation, this approach will be terminated.
The recent UK budget announced attractive terms for both businesses and lenders, with the aim of supporting the continued provision of finance to UK businesses during these challenging times.
Conditions for lenders
The UK government provided accredited lenders (see list below) with a guarantee of 80% on each loan they make to give these lenders confidence in continuing to provide finance to small business. Such guarantees are vital in changing the credit decision given by a lender.
General conditions
1. UK registered business. 2. Application must be for business purposes. 3. The loan limits under CBILS are a minimum of £1,000 and a maximum of £5,000,000. 4. Turnover less than £45,000,000 per annum. 5. The business does not operate in one of the following ineligible sectors: banks and building societies; insurers and reinsurers (but not insurance brokers); public-sector organisations, including state-funded primary and secondary schools; employer, professional, religious or political membership organisations; trade unions. The CBILS facility will be firstly used to support trading in the UK 6. More than 50% of turnover must be generated from trading activity.
The interest rate
CBILS business finance products available
Financial terms
Application Process
Security for lending
The list of lenders
The following lenders are accredited:
Accredited lenders | Range of business finance products | Conditions |
ABN AMRO COMMERCIAL FINANCE | Terms Loan and Invoice Finance | General conditions. + An annual turnover between £2.5m and £45m + If you have assets with partial lending value, ABN would consider a combination of secured and unsecured lending options. + Your CBILS-backed facility will be used to support primarily trading in the UK |
ARKLE FINANCE | Asset Finance | ​General conditions. |
ART BUSINESS LOANS | Term Loan | General conditions. + The business must be based in the West Midlands + After interest free period of 12 months: 12% over Bank of England Base Rate + Loans between £10,000- £150,000 + Personal guarantees will not be required. |
ASKIF | Term Loan | General conditions. + Loans from £10,000 to £60,000 + Only for businesses that have been trading for a minimum of 12 months. + Finance terms are from 1 up to 4 years |
BANK OF IRELAND (NORTHERN IRELAND) | Term Loan and Revolving Credit | General conditions. |
BANK OF SCOTLAND | Term Loan | General conditions. + Loans from £25,000 + Business has not accumulated losses greater than half of subscribed share capital as at 31 December 2019 + Business has not previously received rescue or restructuring aid that is yet to be reimbursed or is still under a restructuring plan |
BARCLAYS | Term Loan | General conditions. + Loan between £25,001 and £5,000,000 + Finance terms are from 1 up to 6 years |
BCRS BUSINESS LOANS | Term Loan | General conditions. + Loans from £10,000 to £150,000 + West Midlands based businesses |
BUSINESS ENTERPRISE FUND (WEST & NORTH YORKSHIRE AND THE NORTH EAST) | Term Loan | General conditions. + Loans up to £250,000 |
CHAMBER ACORN FUND (HUMBER) LTD | Term Loan | CHAMBER ACORN FUND doesn't have sufficient capital in order to participate in the scheme |
CLYDESDALE AND YORKSHIRE BANKS | Term Loan | General conditions. +.Loan between £25,001 and £5,000,000 |
COMPASS BUSINESS FINANCE | Term Loan and Asset Finance | General conditions. |
COVENTRY & WARWICKSHIRE REINVESTMENT TRUST | Term Loan | General conditions. |
DANSKE BANK (NORTHERN IRELAND) | Term Loan | General conditions. + Loan between £25,001 and £5,000,000 + Finance terms are from 1 up to 6 years. The maximum loan value: 2 x Annual wage bill as evidenced by 2019 accounts. 25% of 2019 turnover as evidenced by 2019 accounts. Estimation of Working Capital/Investment costs required for the forthcoming 18 months. |
DSL BUSINESS FINANCE (SCOTLAND) | Term Loan | General conditions. + Loan between £1,000 and £50,000 + Finance terms are from 1 up to 5 years. + Supports businesses located in Scotland |
ENTERPRISE ANSWERS (CUMBRIA) | Term Loan | General conditions. + Business based in Cumbria, North Lancashire or The Yorkshire Dales. |
FINANCE FOR ENTERPRISE (DONBAC) | Term Loan | General conditions. + Business is based in either: Sheffield City Region, The Humber region, Lincolnshire, North Midlands (i.e. Derbyshire & Nottinghamshire). + CBILS-backed facility will be used to support primarily trading in the UK. + Finance terms are from 1 up to 5 years. |
FIRST ENTERPRISE | Term Loan | General conditions. + Loans of up to £150,000 |
GC BUSINESS FINANCE | Term Loan | General conditions. + Business is based in Greater Manchester or in the North West + Loans between £25,000 and £100,000 for North West Businesses. + Loans between £5,000 and £250,000 for Greater Manchester Businesses +. Finance terms are up to 5 years |
GENESIS ASSET FINANCE | Term Loan | General conditions. + Loans between £5,000 and £100,000. + Facilities continue to only be available to Limited companies in England and Wales |
HAYDOCK FINANCE | Asset Finance | General conditions. |
HITACHI CAPITAL BUSINESS FINANCE | Term loan and Asset Finance | General conditions. + APR between 6.2% and 8.8%. + Loans from £5,000 to £500,000. + Finance terms between 2-5 years + Available to Sole Traders, Private Companies (Ltd), Limited Liability Partnerships (LLP), Public Companies (PLC). Trading 3+ years |
HSBC | Term Loan | General conditions. + After interest free period of 12 months: 3.49% over Bank of England Base Rate for loans up to and including 3 years. 3.99% over Bank of England Base Rate for loans over 3 years. + For incorporated entities: available for sums of £10,000. For sole traders and partnerships: available for sums of £25,001. +The maximum assistance is €800,000, with restrictions in certain sectors |
LET’S DO BUSINESS GROUP | Term Loan | General conditions. + Loans from from £3,000 to £50,000. + Finance terms are from 3 months up to 7 years. |
LLOYDS BANK | Term Loan | General conditions. + Loans between £25,000 and £5,000,000. |
MERSEYSIDE SPECIAL INVESTMENT FUND | Term Loan | General conditions. +Need to be existing client. |
METRO BANK | Term Loan | General conditions. |
NATWEST | Term Loan | General conditions. +Loans from £5k to £5 million. |
NEWABLE (FORMERLY GLE) | Term Loan | ​General conditions. |
ROBERT OWEN COMMUNITY BANKING | Term Loan | General conditions. + Loans between £1,000 and £25,000 + 9-15% Fixed Interest Rate + Finance terms are from 1 up to 5 years |
SANTANDER | Term Loan | General conditions. |
SKIPTON BUSINESS FINANCE | Invoice Finance and Term Loan | General conditions. |
SOUTH WEST INVESTMENT GROUP | Term Loan | General conditions. + Only for Bristol, Cornwall and the Isles of Scilly, Devon, Dorset, Gloucestershire, Somerset and Wiltshire. + APR between 12%-14,9%. + Loans between £10,000 - £60,000. + Finance terms are up to 3 years |
THE ROYAL BANK OF SCOTLAND | Term Loan | General conditions. + depends on kind of loans: Small Business Loan, Fixed Rate Loan, Variable Rate Loan qualify for CBILS. |
TSB | Term Loan | General conditions |
UKSE | Term Loan | General conditions. + Loans up to £100,000 |
ULSTER BANK (NORTHERN RELAND) | Term Loan | General conditions. + Interest rate 7,1% +Loans between £5k and £5 million |
These financial institutions are in the process of scheme’s details, conditions and rates. Therefore, the information regarding conditions may be changed and updated.
For further information on any of the points above contact
Mikita Makayou at mikita@lexefiscal.com, or
Dr. Frank at clifford.frank@lexefiscal.com.
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