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.

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.

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:
 
  • 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.

CBILS enquiry form

Please complete this form and a member of our team will contact you to discuss how we can best support you.

Please read and confirm your business meets the following criteria.

  • It is a UK-based sole trader, partnership or company with a (Group) annual turnover of up to £45 million.
  • I can self-certify it has been adversely affected by the coronovirus (Covid-19).
  • It generates more than 50% of its (Group) turnover from trading activity in the UK.
  • It wants to borrow between £5,000 and £5 million for asset finance, £50,001 and £5 million for term loans or £50,001 and £5 million for revolving credit facilities.
  • It requires the financing for working capital, growth or investment.
  • It will use the financing to support business activity within the UK.

You can also confirm none of the following applies to your company: 

  • It hasn’t applied or 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.
  • It is not a bank, building society, insurance company, public sector organisation, or state-funded primary or secondary school or charity.
  • It isn’t 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". 

If you don't meet all of these criteria then please click here to find out what financial support you can get for your business.

 

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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.

 

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