Coronavirus -

Coronavirus Business Interruption Loan Scheme (CBILS)

Published

3rd June 2020

Category

Arbuthnot Commercial ABL is an accredited lender of the government’s Coronavirus Business Interruption Loan Scheme (CBILS). CBILS offers affected businesses with turnover of up to £45m the opportunity to borrow up to £5m, for a term of up to six years.

If your business has been affected by coronavirus and you meet the eligibility criteria, do contact us to discuss what this could mean for your business:

Email – ABL@Arbuthnot.co.uk

Contacts

Keith Rose

Director, Business Development

(Midlands and South West)

KeithRose@arbuthnot.co.uk

+44 (0)7973 912611

 

James Marler

Director, Business Development

(South East)

JamesMarler@arbuthnot.co.uk

+44 (0)7741 148364

Joe Taviner

Director, Business Development

(North West)

JoeTaviner@arbuthnot.co.uk

+44 (0)7341 479 334

 

Richard Ackers

Director, Business Development

(North East)

RichardAckers@arbuthnot.co.uk

+44 (0)7741 162590

About CBILS:

  • Government backed initiative provided by the British Business Bank
  • Loan value between £50,001 and £5m
  • No interest, fees or repayments for the first 12 months of the loan
  • Term loans and asset finance facilities available up to six years
  • Overdrafts and invoice discounting available up to three years

Eligibility:

  • Existing Arbuthnot Commercial ABL clients have priority to facilities, however new applicants will be considered
  • Minimum total facilities of £1m including the CBILS loan alongside an Invoice Discounting facility
  • Your business, or group of businesses must have an annual turnover of no more than £45m
  • Your business must be based the in the UK
  • Your CBILS backed facility must be used to support primarily trading in the UK
  • Your business must generate more than 50% of its turnover from trading activity
  • You must have a borrowing proposal which, were it not for the current pandemic, would be considered viable
  • You must self-certify that you have been adversely impacted by the Coronavirus pandemic (COVID-19).
  • Additional security and personal guarantees may be required

You will need to provide:

  • Prior year end annual accounts
  • Up to date management information
  • 12 months P&L, balance sheet, and cash flow forecasts
  • An up to date summary sales ledger, aged by invoice date
  • Evidence of the measures taken to mitigate the impact of the coronavirus pandemic

Important information

The scheme provides Arbuthnot Commercial ABL with a government-backed guarantee to facilitate lending during a time when the borrower may not have passed ‘normal’ lending criteria thresholds.

The Government guarantee is to Arbuthnot Commercial ABL (‘the lender’). Your business (‘the borrower’) remains liable for 100% of the loan.

British Business Bank

The Coronavirus Business Interruption Loan Scheme (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).

To find out more about the scheme, please visit the British Business Bank website.

British Business Bank Logo


 

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Arbuthnot Commercial ABL

Gatwick Office: The Beehive, City Place, Gatwick, RH6 0PA

Registered in England and Wales no. 10915339. Arbuthnot Commercial Asset Based Lending Limited’s registered office is Arbuthnot House, 7 Wilson Street, London, EC2M 2SN.