Coronavirus Business Interruption Loan Scheme
Investec is an accredited lender for the Coronavirus Business Interruption Loan Scheme (CBILS). We are now accepting applications and look forward to helping small businesses through this tough time.
What is CBILS?
CBILS is designed to support the continued provision of finance to small and medium-sized enterprises (SMEs) in the UK during the Covid-19 outbreak. The scheme, managed by the British Business Bank (BBB) and delivered through more than 60 accredited lenders, provides the lender with a government-backed guarantee, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’. Note: The borrower remains fully liable for the debt.
CBILS enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cash flow.
CBILS enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cash flow.
The scheme supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities.
Under CBILS, the first 12 months of interest on the facility and any arrangement fees will be paid by the UK government as a Business Interruption Payment. This means that businesses will benefit from no upfront costs and lower initial repayments.
Please note: This scheme is just one of a number of measures announced by the UK government to support businesses through the disruption caused by Covid-19. Details of all the measures can be found here.
Under CBILS, the first 12 months of interest on the facility and any arrangement fees will be paid by the UK government as a Business Interruption Payment. This means that businesses will benefit from no upfront costs and lower initial repayments.
Please note: This scheme is just one of a number of measures announced by the UK government to support businesses through the disruption caused by Covid-19. Details of all the measures can be found here.
What types and size of finance can Investec offer under CBILS?
Under CBILS, we are offering the following to SMEs that are struggling financially as a result of Covid-19:
- term loans from £50,001 to £5 million for between 12 months and six years
- asset finance facilities of up to £5 million
- invoice finance from £100,000 to £5 million
- revolving credit facilities from £50,001 to £5 million
Is my business eligible to apply?
To be eligible to borrow under CBILS, your company must:
Unfortunately, you won't be eligible if your company:
Please note:
If you're applying to borrow £30,000 or more, your company also won't be eligible if it is classed as an "undertaking in difficulty".
- Be a UK-based sole trader, partnership or company with a (Group) annual turnover of up to £45m.
- Self-certify that you have been adversely impacted by the coronavirus (Covid-19).
- Generate more than 50% of your (Group) turnover from trading activity in the UK.
- Require the financing for working capital, growth or investment.
- Use the financing to support business activity within the UK.
Unfortunately, you won't be eligible if your company:
- Is a bank, building society, insurance company, public sector organisation, or state-funded primary or secondary school or charity.
- Applied or has been accepted for a Bounce Back Loan Scheme (BBLS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS) or the Bank of England's Covid Corporate Financing Facility (CCFF), unless the funds you borrow will refinance the whole of the BBLS, CLBILS or CCFF financing.
- Is in arrears with any lender (including having been served a winding-up petition or a statutory demand), or in an insolvency process (bankruptcy, CVA, IVA, administration, liquidation, etc.).
Please note:
If you're applying to borrow £30,000 or more, your company also won't be eligible if it is classed as an "undertaking in difficulty".
Important information
- As with any other commercial transaction, the borrower is always responsible for the repayment of the full value of any facility supported by CBILS.
- The government guarantee is to the lender, not the borrower.
How can I apply for CBILS finance?
If you’re interested in applying for CBILS financing, please make an enquiry and we’ll contact you to discuss the best options for your business.
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.
Our UK regulators
Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered at 30 Gresham Street, London EC2V 7QP.
Investec Asset Finance plc (Reg. no 2179313) is authorised and regulated by the Financial Conduct Authority for credit-related regulated activities (including hiring). Registered office at Reading International Business Park, Reading, RG2 6AA.