Coronavirus Business Interruption Loan Scheme
Provided by Arbuthnot Latham
Arbuthnot Latham 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 you are a client of Arbuthnot Commercial Asset Based Lending, please instead visit their page on CBILS loans for more information.
- 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 available up to six years
- Revolving credit facilities available up to three years
- Existing Arbuthnot Latham clients have priority to facilities, however new applicants will be considered
- Scheme minimum £50,001
- Your business, or group of businesses must have an annual turnover of no more than £45m
- Your business must be based 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 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
- Evidence of the measures taken to mitigate the impact of the Coronavirus pandemic
- The above requirements will vary and is not an exhaustive list
If you are looking for a CBILS loan with Invoice Financing (asset based lending), please instead visit Arbuthnot Commercial Asset Based Lending.
The scheme provides Arbuthnot Latham 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 Latham (‘the lender’). Your business (‘the borrower’) remains liable for 100% of the loan.
How to apply
If your business has been affected by Coronavirus and you meet the eligibility criteria, please email us at CBILSTeam@arbuthnot.co.uk to discuss what this could mean for your business.
About the Scheme
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).
Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA.