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CBILS

CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME (CBILS)

***The Coronavirus Business Interruption Loan Scheme 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 us at scania.finance@scania.com

 

Recovery Loan Scheme

A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme, which will open on 6 April 2021, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports a maximum facility size of up to £10m with minimum facility sizes starting at £1,000 for Invoice and Asset Finance and £25,001 for Term Loans and Overdrafts. Further information can be found on the British Business Bank website.

Scania Financial Services have been accredited by the British Business Bank (BBB) for the provision of providing loans under the Recovery Loan Scheme (RLS). Please visit our Recovery Loan Scheme page here to find out more.

What is the Coronavirus Business Interruption Loan Scheme?

The Coronavirus Business Interruption Loan Scheme (CBILS) is a government-backed scheme provided by the British Business Bank to provide a facility for finance to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Scania Financial Services is accredited for CBILS via the British Business Bank and able to support with Asset Finance between £25k to £5 million.

Key Features of Scania Financial Services CBILS Scheme?
  • Advances between £25k and £5 million
  • Flexible terms between 12 and 72 months
  • Interest and fees paid by Government for the first 12 months
Is my business eligible?

You may be eligible for CBILS if all the following apply:

•       Be UK based in its business activity with annual turnover of no more than £45m 

•       Application must be for business purposes and not in financial difficulty prior to the COVID-19 outbreak

•       Generate more than 50% of its turnover from trading activity

•       Require a CBILS-backed facility to support primarily trading in the UK

•       Borrow between £25k and £5 million

Ineligible purposes:

•       Refinance of an existing asset finance facility is ineligible

•       Hire purchase or leasing of cars or other vehicles subject to personal taxation

•       Variable rate deals

•       Direct financing of specific export activity

•       Operating Lease

For more information directly from the British Business Bank please click here

Important Information

Please note: The borrower is always responsible for repayment of the full value of any facility supported by CBILS.

Please note: The guarantee is to the lender, and not the small business

Any queries from a business with an active or historic EFG facility, including guarantee fee collection or alterations to their repayment profile should raise them with their lender, and not with the British Business Bank.

BRITISH BUSINESS BANK

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

 

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