Whats Does CBILS Stand For?

The acronym “CBILS” is an abbreviation of the phrase “Coronavirus Business Interruption Loan Scheme”. This is a loan scheme introduced by the UK government in April 2020 to support businesses through the coronavirus pandemic.

The premise of the scheme was that the UK government would provide a guarantee to banks and other approved lenders, encouraging loans to SME’s. The government would also service the first year’s interest and also any arrangement fees.

A large number of banks and specialist business lenders have signed up. You can apply direct with your bank or through a wide number of other accredited scheme members.

Main Features of The CBILS Loan Scheme

  • For businesses with a turnover of less than £45m
  • Loans & finance up to £5m
  • Types of finance: Business loans, overdrafts, invoice finance, asset finance, bridging & development loans
  • First 12 months of interest and lenders fees covered
  • More than 90 lenders accredited
  • New applications until 31 March 2021

To find out more about CBILs and what is means, we have more articles below.

Apply For A Second or Top Up CBILS: Government Backed Loans

CBILS LOAN – Coronavirus Business Interruption Loan Scheme

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