Coronavirus Business Interruption Loan Scheme: Difference between revisions

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imported>Doug Williamson
(Create page. Source: British Business Bank webpage https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/)
 
imported>Doug Williamson
(Add links.)
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''Business continuity - pandemic.''
''Business continuity - pandemic - UK.''


(CBILS).
(CBILS).


The CBILS will be provided by the British Business Bank through participating providers, and will offer more attractive terms for both businesses applying for new facilities and lenders, with the aim of supporting the continued provision of finance to UK businesses during the Covid-19 outbreak.
The CBILS will be provided by the UK government owned British Business Bank through participating providers.


The scheme provides the lender with a UK government-backed guarantee against the outstanding facility balance, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.  
It will offer more attractive terms for both businesses applying for new facilities and lenders, with the aim of supporting the continued provision of finance to UK businesses during the Covid-19 outbreak.


The Government will also cover the first 12 months of interest payments, so businesses will benefit from lower initial repayments. The business remains liable for repayments of the capital. The maximum value of a facility provided under the scheme will be £5 million.
The CBILS provides the lender with a UK government-backed guarantee against the outstanding facility balance, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.
 
The UK government will also cover the first 12 months of interest payments, so businesses will benefit from lower initial repayments. The business remains liable for repayments of the capital.  
 
The maximum value of a facility provided under the scheme will be £5 million.




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TO BE ELIGIBLE FOR SUPPORT VIA CBILS, THE SMALL BUSINESS MUST:
TO BE ELIGIBLE FOR SUPPORT VIA CBILS, THE SMALL BUSINESS MUST:


*Be UK based, with turnover of no more than £45 million per annum.
*Be UK based, with annual turnover of no more than £45 million.
*Operate within an eligible industrial sector.
*Operate within an eligible industrial sector.
*Be unable to meet a lender’s normal lending requirements for a fully commercial loan or other facility, but would be considered viable in the longer-term.
*Be unable to meet a lender’s normal lending requirements for a fully commercial loan or other facility, but would be considered viable in the longer-term.
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*[[Liquidity management]]
*[[Liquidity management]]
*[[WFH]]
*[[WFH]]
==Resources for COVID-19==
[https://www.treasurers.org/hub/technical/covid19 ACT technical - COVID-19]
[https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses UK government: support for businesses]
[https://www.gov.uk/coronavirus UK government: COVID-19 support hub]


[[Category:The_business_context]]
[[Category:The_business_context]]

Revision as of 09:53, 23 March 2020

Business continuity - pandemic - UK.

(CBILS).

The CBILS will be provided by the UK government owned British Business Bank through participating providers.

It will offer more attractive terms for both businesses applying for new facilities and lenders, with the aim of supporting the continued provision of finance to UK businesses during the Covid-19 outbreak.

The CBILS provides the lender with a UK government-backed guarantee against the outstanding facility balance, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.

The UK government will also cover the first 12 months of interest payments, so businesses will benefit from lower initial repayments. The business remains liable for repayments of the capital.

The maximum value of a facility provided under the scheme will be £5 million.


CBILS SUPPORTS A WIDE RANGE OF BUSINESS FINANCE PRODUCTS, INCLUDING:

  • Term facilities
  • Overdrafts
  • Invoice finance facilities
  • Asset finance facilities


TO BE ELIGIBLE FOR SUPPORT VIA CBILS, THE SMALL BUSINESS MUST:

  • Be UK based, with annual turnover of no more than £45 million.
  • Operate within an eligible industrial sector.
  • Be unable to meet a lender’s normal lending requirements for a fully commercial loan or other facility, but would be considered viable in the longer-term.


See also


Resources for COVID-19

ACT technical - COVID-19

UK government: support for businesses

UK government: COVID-19 support hub

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