Coronavirus Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme

The Coronavirus Business Interruption Loan Scheme (CBILS) is now closed to new applications.

Please note, applications received by 23:59 on 31 March 2021 can still be processed through to 31 May 2021.

If you have a query about CBILS, or wish to discuss an outstanding application, please contact the Introducer who submitted your application.

What is CBILS?

CBILS is a scheme, announced by The Chancellor at Budget 2020, that can provide facilities for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cash flow. The scheme provides the lender with a government-backed guarantee potentially enabling a 'no' credit decision from a lender to become a 'yes'. 

Please be aware that this is a government backed guarantee scheme. The borrower always remains 100% liable for the debt.

The Scheme

The Coronavirus Interruption Loan 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.

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. A full outline of the scheme can be found on the British Business Bank website, along with FAQ's for customers.

Is your business eligible? 

We are trying to help as many businesses as possible get the funding they require. We'll be able to assess your application for the British Business Bank's Coronavirus Business Interruption Loan Scheme if you match the minimum eligibility criteria below.

To meet the British Business Bank's CBILS criteria, your business should:

      • Be UK-based in their business activity
      • Have an annual turnover of no more than £45 million
      • Have a borrowing proposal which the lender would consider viable, were it not for the current pandemic
      • Self-certify that it has been adversely impacted by the coronavirus (COVID-19).

To meet our Hitachi Capital Business Finance underwriting criteria, businesses need to:

      • Be an existing Hitachi Capital (UK) PLC business customer with an active agreement, or one that has ended within the last 12 months
      • Have been trading for a minimum of 3 years
      • Be profit making for the last 3 years
      • Not request an amount that exceeds 25% of the total turnover in 2019
      • Have been impacted by COVID-19 to qualify

  • Need to get in touch?

    The Coronavirus Business Interruption Loan Scheme (CBILS) is now closed to new applications.

    If you are an existing eligible Hitachi Capital business customer and have a query about a CBILS application, please contact the finance introducer who helped to set up your current agreement or submitted the application on your behalf.

    Alternatively you can complete the contact form. Please note you will require your existing Hitachi Capital agreement number.

    If you are a Franchise Finance customer, please contact fundingteam@franchisefinance.co.uk

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