Coronavirus Business Interruption Loan Scheme (CBILS)
CBILS aims to financially assist small businesses which have been affected by the pandemic to access loans of up to £5 million.
The government guarantees 80% of the funding to the lender and pays interest and fees for the first 12 months.
Eligibility
For any requests the company must complete the requirements below:
- Be based in the United Kingdom
- Maximum turnover of £45 million per year
Businesses in all sectors can be granted the loan, except: banks, insurers, public sector organizations and state-funded schools.
If you wish to borrow £30,000 or more, you must certify that the company was not classified as distressed at December 31, 2019.
Applications are open until January 31, 2021.
Term of the loan
- Up to 3 years for overdrafts and invoice financing facilities
- Up to 6 years, for loans and asset financing facilities
How do I apply?
50 lenders are participating in the program, simply apply to their department and mention:
- The amount to be borrowed
- What the money will be used for
- The Repayment periods
Euro Accounting
Shabir Djakiodine
Chartered Accountant
France – UK – Ireland – Switzerland
Company incorporation, domiciliation, accountancy, tax, VAT, payroll, consolidation,
management account
+44(0) 778 986 2405 – +33(0) 7 56 91 93 32
