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 of £50,001 to £5 million for between 12 months and six years
- asset finance facilities from £5,000 to £5 million
- invoice finance from £100,000 to £5 million
Is my business eligible to apply?
To help you understand if you may be eligible to apply for a CBILS-backed facility, please ensure you can answer yes to all the points below:
Investec will need further information to confirm eligibility. This is a quick reference guide and is not a confirmation of approval. All lending decisions remain fully delegated to accredited lenders.
Full details on CBILS eligibility criteria can be found on the British Business Bank website.
- Your application must be for business purposes and the business must have been adversely impacted by the Coronavirus (Covid-19).
- You must be a UK-based SME with an annual turnover of up to £45 million.
- Your business must generate more than 50% of its turnover from trading activity.
- Your CBILS-backed facility will be used to support primarily trading in the UK.
- You wish to borrow up to a maximum of £5 million.
- Your borrowing proposal would be considered viable, were it not for the current pandemic.
Investec will need further information to confirm eligibility. This is a quick reference guide and is not a confirmation of approval. All lending decisions remain fully delegated to accredited lenders.
Full details on CBILS eligibility criteria can be found on the British Business Bank website.
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, and not the small business.
How can I apply to Investec for CBILS finance?
If you interested in applying for CBILS finance, please complete the enquiry form below and we will get back to you.
Contact us today to find out more about how CBILS could help 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.