CBILS Term Loans
Fast acceptance rate
Easy application process
Unrestricted use of funds
Terms from 2 to 6 years
CBILS-backed Term Loans
One of the least complicated loan types, term loans are now a CBILS loan option, meaning they are backed by the Coronavirus Business Interruption Loan Scheme (CBILS). Providing between £50,001 to £250,000, a CBILS backed term loan is ideal for helping SMEs operate in light of Coronavirus implications. With nothing to pay until the 13th month of the loan term (and the first 12 months’ interest paid for by the UK Government), a term loan is ideal for those in need of quick and substantial support.
You’ll need to be eligible to apply and should expect interest rates based on your business and personal circumstances. Below, we’ll identify exactly what you need to apply and what you can expect in terms of support. If you’d rather speak directly to the team, use the form above and we’ll get in touch.
What is a Term Loan?
Is my business eligible for a CBILS-backed Term Loan?To qualify for a CBILS-backed term loan, your business must sit within the eligibility requirements set out below:
- Turnover is below £45M
- 250 Employees or less
- Business has been negatively impacted by Covid-19
- Business generates more than 50% of turnover in the UK
- Positive Balance Sheet
- Able to demonstrate affordability
- No history of crime or fraud
- Filed at least 1 set of accounts
- Ltd Companies only
- Minimum 12 months trading
How to Apply
Fill in the above form or contact us
Tell us how much you’re looking for and you intentions with the funds. No bulky business plans or documents are required.
We find an offer
We search the market for the most competitive offers. A dedicated account manager will then provide support thoughout.
You’ll receive a personalised quote within just 24 hours. We currently have an 85% acceptance rate.
The money can be in your account within a matter of days.
How much can my business borrow with a Term Loan?
CBILS backed term loans provide SMEs with financial support from £50,001 to £250,000. The amount you will be eligible for sits at a maximum of 25% of your annual turnover. If your business turns over more than £1-million per year, you may be eligible to apply for multiple term loans and receive funding beyond the single-loan limit.
CBILS-Backed Term Loan Details
- Loans from £50,001 – £250,000
- Maximum loan value is 25% of turnover
- Terms from 2 – 6 years
- Rates from 1.8% – 11% APR
- First 12 months interest paid for by the UK Government
- Nothing to pay for first 12 months with capital deferred until Year 2
- No broker or arrangement fees