With effect from Monday 6 April 2020 the CBILS has been significantly expanded and changes made to the Scheme’s features and eligibility criteria including a relaxation re personal Guarantees.
If you were a profitable and/or cash generative business prior to Covid-19 the loan is devised to help you survive this difficult period.
Previously a CBILS loan was only available where you did not have tangible security to cover the loan, this has been relaxed so a loan can be on the CBILS scheme even if you have other security available.
The maximum value of a facility provided under the scheme is £5m.
New Eligibility Criteria
Updated Scheme Features
How to apply
You need to apply to a CBILS participating lender.
Ashgates has assisted several clients with successful applications so far and can assist you in this process. If you require advice or assistance, please contact us.
What lenders will need from you
A formal application is required for CBILS funding. Most lenders are likely to ask for (not limited to):
There are 40 CBILS accredited lenders, a list can be found at: