Coronavirus Business Interruption Loan Scheme
About the CBILS
Disclaimer: The Coronavirus Business Interruption Loan Scheme is now closed to new applications. If you have a query about CBILS, please contact your Relationship Manager.
The scheme can provide facilities for businesses across the UK who are experiencing lost or deferred revenues directly as a result of the COVID-19 pandemic, leading to disrupted cashflow.
If you’re a business to business operation in the UK with an annual turnover between £2.5m and £45m, ABN AMRO Commercial Finance can help you access the CBILS alongside our Receivables Finance solution.
Delivered by the British Business Bank, the scheme provides a government-backed (80%) guarantee to the lender to support viable applications. This will support the continued provision of finance during the COVID-19 outbreak.
Please note: ABN AMRO Commercial Finance does not offer the CBILS as a standalone product. The scheme is only available alongside our Receivables Finance offering.
- The CBILS partially guarantees facilities.
- Available for Invoice Finance top-ups – up to three year term.
- There is no guarantee fee for you to access the scheme.
- You will benefit from no upfront costs and lower initial repayments.
- Lenders will pay a fee to access the scheme and the government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees.
- The scheme may be used for unsecured lending for facilities up to £250,000.
- For facilities above £250,000, we will establish a lack of, or absence of security prior to you using the scheme.
- If you have assets with partial lending value, we would consider a combination of secured and unsecured lending options.
- The borrower always remains 100% liable for the debt.
If you meet the criteria below, you could be eligible for the CBILS:
- You have an existing, or are interested in a Receivables Finance facility with ABN AMRO Commercial Finance
- Your application must be for business purposes
- You must be a UK-based business with an annual turnover between £2.5m and £45m
- 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
- Have a borrowing proposal which, were it not for the COVID-19 pandemic, would be considered viable, and for which the provision of finance will enable the business to trade out of any short-to-medium term difficulty.
Please note that the Enterprise Finance Guarantee has been temporarily replaced by the Coronavirus Business Interruption Loan Scheme (CBILS).
ABN AMRO Commercial Finance does not offer CBILS as a standalone product. The CBILS is only available alongside our Receivables Finance solution.
The 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).
Full details on CBILS eligibility criteria and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS