CBILS

WITH GROWTH LENDING

"Our customers and suppliers were affected by Covid-19 and our sales stalled, but our CBILS funding will enable us to return to full productivity and good profitability"
Julian Vance-DanielManaging Director of Vessco Engineering

What is the Coronavirus Business Interruption Loan scheme (CBILS)?

CBILS can help SMEs that have lost revenue and had cashflow disrupted as a result of the COVID-19 outbreak. Funding is not provided by the government directly but from accredited lenders. Borrowers will be fully liable for the debt. Under the scheme, the government will pay the interest and fees of the facilities for the first 12 months. This scheme was created to provide financial support for smaller businesses during the Coronavirus pandemic. It is aimed at businesses with a turnover of less than £45 million.

ACCREDITED BY

CBILS products by Growth Lending

Revolving Credit Facility

Flexible line of credit, unlocking funds tied up in your balance sheet, strengthening working capital

Key Terms

  • Funding Amount: £100k-5m
  • Contract length: 2-3 years
  • Interest Rate: 8-14%pa
  • Security: first ranking debenture, no PGs
Apply Now

Invoice Discounting

Invoice discounting facility against your sales ledger, boosting your cashflow position

Key Terms

  • Funding Amount: £100k-5m
  • Contract length: 2 years
  • Interest Rate: 8-14%pa
  • Security: first ranking debenture, no PGs
Apply Now

Term Loans

Loans  designed to provide an extended funding runway & providing capital to achieve next level of growth

Key Terms

  • Funding Amount: £750k-5m
  • Contract length: 3-5 years
  • Interest Rate: 8-12%pa
  • Security: first ranking debenture, no PGs
Apply Now

Eligibility Criteria

  • UK registered businesses only (more than 50% of revenue must come UK trading activity)
  • Maximum turnover of £45m
  • Sector: Must be in a CBILS eligible sector
  • You have been adversely affected by the coronavirus pandemic
  • Company directors: minimum 1 director must be based in the UK
  • Minimum of 12 months trading history

RESOURCES

Info Packs

Growth Lending CBILS Pack

Read our succinct CBILS pack to decide whether a Growth Lending CBILS facility is the right fit for your business

Download

CBILS FAQ Pack

Use our extensive FAQ guide to help understand CBILS and the Growth Lending products offered under the scheme

Download

frequently asked questions

We are inviting businesses to preregister their interest now and will be taking formal applications in the next 2 weeks. We will be releasing a pre-registration of interest in the coming days.

We will assess your suitability for funding on receipt of your application. The aim of the scheme is to offer finance to businesses who have a strong borrowing case but have been disrupted by COVID-19.
The government will cover your interest payments for the first 12 months. After that, interest will revert to standard commercial rates and there will be no early repayment charges that apply to the loan.
We will assess your suitability for funding and upon approval, will issue a funding limit.

Yes if you are an existing customer of a Growth Lending lender, you can apply to refinance your facility under CBILS and also apply for a new facility.

Growth Lending facilities range from 2-5 years in duration.

We will take an all assets debenture for all facilities. Unless there are extraordinary circumstances, we do not take personal guarantees.