CBIL Business Interruption Loan

 

At Berkeley Private Wealth, we help with the government CBIL Business Interruption Loan. The Coronavirus Business Interruption Loan Scheme (CBILS) supports small and medium-sized businesses, with an annual turnover of up to £45 million, to access loans, overdrafts, invoice finance and asset finance of up to £5 million for up to 6 years. The government will also make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees. This means smaller businesses will benefit from no upfront costs and lower initial repayments. 
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Eligibility
  • Business is based in the UK.
  • Business has an annual turnover of up to £45 million.
  • Business has a borrowing proposal which the lender would consider viable, if not for the coronavirus pandemic. 
  • Can self-certify that your business has been adversely impacted by coronavirus.
Overview:
  • Borrow up to £5 million.
  • Supports businesses with turnover up to £45 million.
  • Terms up to 6 years.
  • UK based businesses only.
 
The government will provide lenders with a guarantee of 80% on each loan (subject to pre-lender cap on claims) to give lenders further confidence in continuing to provide finance to small and medium-sized businesses, these are unsecured loans.
Requirements
  • Last 2 years trading accounts.
  • Up to date Management Accounts if available.
  • Last 6 months personal bank statements. 
  • Last 6 months business bank statements.
  • Assets & Liabilities statement for the business owners (can be completed over the phone).