The Coronavirus Business Interruption Loan Scheme (CBILS)
PLEASE NOTE DUE TO DEMAND WE ARE ONLY ABLE TO ASSIST EXISTING CLIENTS AT THIS TIME. WE HOPE TO BE ABLE TO ASSIST NEW APPLICANTS IN THE NEAR FUTURE
ART Business Loans is an accredited partner of the scheme
This is a new scheme that supports smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.
You must be a UK-based SME with an annual turnover of up to £45 million per year and your business must generate more than 50% of its turnover from trading activity. Your application must be for business purposes to support primarily trading in the UK.
The business must have a borrowing proposal which were it not for COVID-19 would be considered viable by the lender, and for which the lender believes the provision of finance will enable the businesses to trade out of any short to medium term difficulty.
The business must be based in the West Midlands
Frequently Asked Questions
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 for State for Business, Energy and Industrial Strategy (BEIS).
• Loans between £10,000- £150,000
• Terms up to 6 years
• No guarantee fee for SMEs to access the scheme
• Interest and fees paid by Government for 12 months
• Personal guarantees will not be required
• The borrower always remains 100% liable for the debt
For ART’s Terms and Conditions click ART-TC CBIL
For an Application Form (The attached T&C’s are superseded by those above) – click here – Application Form
For Further details of the scheme visit these pages at British Business Bank