Coronavirus Business Interruption Loan Scheme (CBILS)

This government scheme provides finance for small and medium sized businesses whose cash flow has been disrupted by the COVID-19 outbreak. Businesses applying to this scheme will need to show that they had a viable business plan before corona virus began affecting their business.

For businesses with an annual turnover below £45 million, loans up between £50,001 and £5 million will be provided.  The borrowing business won’t be charged any interest or fees for the first 12 months. Under this scheme, the government will also guarantee 80% of any net losses to the lender of a CBILS backed loan. more information available here.