Get support to help your business deal with the impact of COVID-19

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Access the Coronavirus Business Interruption Loan Scheme (CBILS)

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.

Who can apply?

  • Smaller businesses from all sectors can apply for the full amount of the facility

  • You must be UK based in your business activity, with turnover of no more than £45m per year

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

  • You will self-certify that your business has been adversely impacted by Coronavirus

Some businesses and sectors are excluded, please speak to your Halo representative for more details.

Key scheme features

  • Up to £5m facility, available on repayment terms of up to six years
  • No guarantee fee for SMEs to access the scheme
  • Interest and fees paid by Government for 12 months
  • For overdrafts and invoice finance facilities, terms will be up to three years
  • The scheme provides the lender with a government-backed, guarantee against the outstanding facility balance. The borrower always remains 100% liable for the debt
  • No personal guarantees for facilities under £250k
  • 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

How do I apply?

Any small business interested in CBILS should, in the first instance, contact Halo on 0345 450 1966 or speak to your usual representative. We will then apply to the accredited CBILS funders on our panel in the same way as we do for other funding applications.

If the lender can offer finance on normal commercial terms without the need to make use of the scheme, they will do so. Where your business has a sound borrowing proposal but insufficient security, the lender will consider the business for support via the scheme.

What do I do next?

Speak to your representative at Halo as soon as possible or call 0345 450 1966 so that we can help to process your application in the shortest possible timeframe.

The Coronavirus Business Interruption Loan Scheme (CBILS) 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 (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS

Any more questions?

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What can Halo do for your business?

“When we approached our bank for a short-term loan they were less than helpful. Luckily, we found Halo quite the opposite – within 48 hours we had funds in our account”

Director, EcoEgg

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