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Coronavirus Business Interruption Loan Scheme (CBILS)

To help British businesses affected by the Covid-19 pandemic, LendingCrowd is offering CBILS loans from £50,001 to £250,000 – with terms of either three or five years and nothing to pay for the first 12 months.

What is CBILS?

The Coronavirus Business Interruption Loan Scheme (CBILS), delivered through British Business Bank accredited lenders and partners, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. Please note that for term loans and overdrafts, the minimum amount a lender can offer under CBILS is £50,001.

The UK Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments. No personal guarantees are required for CBILS facilities up to £250,000.

Smaller businesses from all sectors* can apply for the full amount of the facility. To be eligible for a facility under CBILS, a smaller business must:

  • Be UK based in its business activity, with turnover of no more than £45m per year

  • Have a borrowing proposal which, were it not for the current pandemic, would be considered viable by the lender

  • Self-certify that it has been adversely impacted by the Coronavirus

*Please note, the following are not eligible under CBILS:

  • Banks, insurers and reinsurers (but not insurance brokers)

  • Public sector bodies and;

  • State-funded primary and secondary schools

Borrow from £50,001 to £250,000

Borrow from £50,001 to £250,000

No upfront fees

No upfront fees

Nothing to pay for first 12 months

Nothing to pay for first 12 months

LendingCrowd CBILS loans

Is your business eligible?

  • Borrow from £50,001 to £250,000
  • Based in the UK
  • Rates from 5.6%
  • Turnover below £45 million
  • Term: 36 months or 60 months
  • 50% of income from trading activity in the UK
  • Nothing to pay for first 12 months
  • Adversely affected by Covid-19
  • No early repayment fees
  • Viable if it wasn’t for the pandemic
  • We will need further information to confirm eligibility. Your application will not be deemed to have been submitted until you have provided all the required information and documentation. Please note: when taking out a CBILS loan, the borrower remains fully liable for the debt.

    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.

    Visit british-business-bank.co.uk/CBILS

    Learn more about CBILS loans

    LendingCrowd is working with the Government-owned British Business Bank to help deliver the Coronavirus Business Interruption Loan Scheme (CBILS).

    Want to know more?

    Frequently asked questions

    • What is the Coronavirus Business Interruption Loan Scheme (CBILS)?
      The Coronavirus Business Interruption Loan Scheme (CBILS), delivered through British Business Bank accredited lenders and partners, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
      It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. For term loans and overdrafts, the minimum amount a lender can offer under CBILS is £50,001.

    • What are the key features of the scheme?
      General features of the wider CBIL scheme:
      • Up to £5m facility: The maximum value of a facility provided under the scheme is £5m, available on repayment terms of up to six years.

      • No guarantee fee for SMEs to access the scheme: No fee for smaller businesses.

      • Interest and fees paid by Government for 12 months: The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments.

      • Finance terms: Finance terms are up to six years for term loans and asset finance facilities. For overdrafts and invoice finance facilities, terms will be up to three years.

      • Guarantee to the lender: The scheme provides the lender with a government-backed, guarantee against the outstanding facility balance. The borrower always remains 100% liable for the debt.

      • Principal Private Residence (PPR) – A borrower’s/guarantor’s PPR cannot be taken as security to support a personal guarantee or as security for a CBILS-backed facility.

      • The borrower always remains 100% liable for the debt.

      Additional notes on security:
      • No personal guarantees for facilities under £250,000: Personal guarantees of any form cannot be taken under the scheme for any facilities below £250,000.

      • Personal guarantees for facilities above £250,000: Personal guarantees may still be required, at a lender’s discretion, but recoveries under these are capped at a maximum of 20% of the outstanding balance of the CBILS facility after the proceeds of business assets have been applied. A Principal Private Residence (PPR) cannot be taken as security to support a personal guarantee or as security for a CBILS-backed facility. (Please note that LendingCrowd only offers facilities up to £250,000 and therefore personal guarantees are not required).

      • Security: For all facilities, including those over £250,000, CBILS can now support lending to smaller businesses even where a lender considers there to be sufficient security, making more smaller businesses eligible to receive the business interruption payment.

    • How much can I borrow with LendingCrowd?
      With LendingCrowd, you can borrow between £50,001 and £250,000 using CBILS. Loan terms are either 36 months or 60 months, with no repayments due for the first 12 months. The UK Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments. No personal guarantees are required for CBILS facilities up to £250,000.

      What documents will I need to apply for a LendingCrowd CBILS loan?
      To complete your CBILS application, you’ll need to supply:
      • Two years’ filed accounts

      • Six months’ bank statements

      • Details of current borrowing

      • Management information (if available)

      • Business plan (if available)

    • Will I need a personal guarantee?
      No personal guarantee is required for CBILS loans up to £250,000. The scheme provides the CBILS lender with a government-backed guarantee against the outstanding facility balance. The borrower always remains 100% liable for the debt.

    Any questions? Get in touch

    Visit our help centre or give us a call and we’ll be happy to help.

    help centre

    0345 564 1600

    You can call us Monday to Friday from 9am to 5:30pm.

    If you invest through LendingCrowd you should understand that your capital is at risk.

    LendingCrowd is the trading name of Edinburgh Alternative Finance Limited, Company Number SC468392, authorised and regulated by the Financial Conduct Authority (Firm reference number 670991). LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.

    Read more about the risk involved when investing and borrowing.

    The company's registered office is 23 Manor Place, Edinburgh, EH3 7DX.

    Copyright © LendingCrowd 2021. All rights reserved.

    Best P2P Business Lender ICAS

    LendingCrowd is working with the British Business Bank to help deliver CBILS loans to SMEs affected by the Covid-19 pandemic. Find out more: