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Coronavirus Business Interruption Loan Scheme (CBILS)

What is CBILS?cbils hand holding seedling

The Coronavirus Business Interruption Loan Scheme (CBILS) is a government-backed loan guarantee. It can help provide loan facilities from £50k up to £5m for smaller U.K. based businesses. It is aimed at firms that are losing revenue, and seeing their cash-flow disrupted, due to the COVID-19 outbreak.

The scheme helps businesses that are viable but are unable to obtain finance from commercial lenders due to having insufficient security to meet the lender’s normal requirements.

CBILS supports a wide range of business finance products, including:

  • Term business loans.
  • Overdrafts / revolving credit facilities.
  • Invoice finance facilities.
  • Asset finance facilities.

The scheme provides lenders with a government-backed loan guarantee of up to 80%. And this guarantee can mean that a ‘NO’ credit decision from a lender becomes a ‘YES’.

See our FAQCBILS – Your Questions Answered’ for more information on the criteria, terms and conditions of lending.

How do I apply for CBILS?

You can apply directly to one or more of the CBILS accredited lenders yourself without the need to use a broker. If you choose this route, then please ensure that you thoroughly research the application process. Also, make use of all the materials on our website and any others you may find online.

However, if you and your business are already overstretched, or you would appreciate another pair of hands to help with the application process, then that is where we can help.

We can offer an experienced team of finance specialists who can help you navigate through the whole application process. Fusion Finance and our network partners have been working closely with the banks, and other CBILS funders understand better what lenders want and expect from applicants. This knowledge ensures that applications proceed quickly and efficiently. Also, we can help organise any property valuations, insurances and legal support necessary to speed the transaction along.

We do NOT charge any ‘upfront’ fees. We only charge a fee when until have secured the funding that you require and you have drawn the funds.

Our discounted fee structure for CBILS lending is very straightforward. We charge a fee of 1% of the total loan amount LESS any commissions that the lender pays to us. So if the lender pays us 0.5%, we will only charge you 0.5% and if the lender gives us 1%, we will charge you nothing. We will always agree the fee with you prior to taking the case forward to lenders.

So if you are considering CBILS funding and need help with the application, then please get in touch. Our advice is offered freely, in confidence and without obligation.

Please contact us today to see how we can help you or submit an email enquiry, and we will get back to you.

Fusion Finance is authorised and regulated by the FCA and we are also members of the NACFB. This means we adhere to an industry recognised Code of Practice that puts you at the centre of everything we do.

© 2020 Fusion Finance.

Additional information:

CBILS Loan ~ Enquiry Form

Use the form below to apply for a CBILS Loan.
For anything else submit a general email enquiry, and we will get back to you.

CBILS eligibility questions

Is the money you are looking to raise strictly for business use only? (required)

Are you a U.K. based business with an annual turnover of less than £45 million? (required)

Does your business generate over 50% of its turnover from trading activities? (required)

Will your CBILS-backed facility be used mainly to support trading in the U.K.? (required)

Are you looking to borrow less than £5 million? (required)

Before the COVID-19 pandemic was your business trading profitably? (required)

Has your business suffered lost or deferred income as a result of the COVID-19 pandemic? (required)

Can you briefly describe how your business has been affected by the COVID-19 pandemic? (required)

Do you know what type of finance your business needs? (required)

Company Details

Company name (required)

Registered address (required)

Company number (required)

Who do you bank with? (required)

Have you approached your bank and what have they said? (required)

Do you have up-to-date accounts for your business? (required)

Do you have up-to-date management accounts for your business? (required)

Is there any additional information you would like to give us?

Your Personal Details

First name (required)

Last name (required)

Your date of birth (required)

Your telephone number

Your email address (required)

How did you find us?

Declarations (all required)

This is just the basic information that we require to evaluate your application. We will be in contact shortly to take your case forward to the next stage.