CBILS - Coronavirus Business Interruption Loans

The CBILS programme is now closed to new applications - alternatives are available

Benefits of CBILS Loans

Alternatives to CBILS funding

The CBILS programme closed to new applications on 31 March 2021. However, many businesses continue to seek financial support to help with recovery from the impact of the pandemic.

The primary alternative to CBILS is the Recovery Loan Scheme:

  • Finance of up to £2m per business.
  • No personal guarantee on facilities up to £250k.
  • Closes for applications at the end of June 2022.

The scheme includes loans, invoice finance and asset finance. These are also available outside the scheme, along with other options for business borrowing.

Having problems with CBILS repayments?

Is your business cashflow being stretched by paying off loans an deferred tax bills?  

The CBILS programme, along with bounce back loans, provided fast access to cash at a time when many UK businesses were starved of working capital. 

But now the repayments are falling due and for many, this puts additional pressure on an already fragile cashflow situation. 

We help businesses find ways to refinance their debts in a way that helps to reduce costs and manage cashflow more efficiently.


Eligibility

Turnover

The minimum turnover CBILS lenders will deal with is £250,000.

Trading History

To acquire this form of funding, you must have at least 12 months trading. We will then approach our panel of lenders to apply for a CBILS loan.

UK Registered Businesses

Due to us dealing with UK Based Lenders, we can only find funding solutions for
UK Limited Companies.

Managing your CBILS repayments

The CBILS application process included the preparation of a sound borrowing proposal, including repayment plans.

However, circumstances change, and your business may well be facing a situation you didn’t anticipate when applying for finance under CBILS.

We help businesses raise the capital needed to ensure repayment programmes are maintained. This can include solutions such as invoice finance and asset finance, which unlock value tied up in existing commercial assets.

These unlocked funds can play an important role, helping you keep up with repayments while your business recovers.

We work with you to find a solution

You’re not alone when it comes to managing you CBILS repayments while also looking for additional finance for growth.

We talk to many business owners in a similar situation, and we help many of them to find a solution. We have access to a panel of around 250 finance providers who, between them, probably have a finance product that will meet your needs.

When you work with us, one member of our team will be dedicated to taking you through the entire process of raising more funds.

We keep you informed, we answer your questions, and we work alongside you from start to finish.

To start the process - get in touch with us today.

Let's get started
Apply now

FAQs

How much will a CBILS loan cost?
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A CBILS loan has no repayments for the first 12 months, and you will not be charged an arrangement fee. The APR interest rate signifies the percentage rate paid annually, which on a CBILS loan will be starting from 1.4%. The range of interest costs can be fairly broad, depending on the profile of the Business.

Am I eligible for a CBILS Loan?
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Eligibility varies largely from lender to lender,with some much more flexible, some much less. The basic criteria for applying for a CBILS Loan facility is as follows:
£250k minimum turnover
12+ months trading history
No County Court Judgements or Adverse Credit History
Director being a homeowner (is preferred)
Businesses will ideally be profitable and have a positive balance sheet
UK Registered Limited Company
Proof of negative impact from the COVID-19 pandemic.

If you don’t meet this criteria it isn’t the end of the road, other funding options are available, and this can be discussed with one of our consultants.

How long does it take to arrange a CBILS Loan?
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CBILS Loan facilities can be completed within 1 – 2 days, from application to funds in your account. Our aim is always to make the process as quick, and simple as possible, keeping you updated throughout.

How much money can I get through a Business Loan?
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CBILS Loans are accessible up to £250,000 with no personal guarantee attached. Up to £5M in total CBILS Loans across multiple lenders are allowed.

Why JD Capital Finance?
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We are not your average broker. We strive to find you the perfect funding facility for your business, in the easiest way possible. We designate a member of our team of specialist finance consultants to you, walking you through the entire process until the funds are in your hands.

Recovery Loan Scheme

“Would thoroughly recommend using JD Capital, we had great service all the way through the process from Perry. We will definitely be back should we need any more finance for my business”

Reviews from our clients

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Disclaimer: JD Capital Finance (Registered Number 10128297) helps UK firms access business finance, working directly with businesses and their trusted advisors. We are a credit broker and do not provide loans ourselves. All finance and quotes are subject to status and income. Applicants must be aged 18 and over and terms and conditions apply. Guarantees and Indemnities may be required. JD Capital Finance can introduce applicants to a number of providers based on the applicants’ circumstances and creditworthiness. JD Capital Finance may receive a commission or finder’s fee for effecting such introductions.
© JD Capital Finance Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the UK. Their reference number is 958123, and you can use that to find them on the FCA register.