Please Note: We are only able to offer loans to people in our area. to see if you qualify Click here

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T: 01768 867118
E: [email protected]

Mardale Road
Penrith
Cumbria
CA11 9EH

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Coronavirus Business Interruption Loan Scheme (CBILS)

Please read the criteria for the CBILS scheme and apply at the bottom of the page.

Launched by the British Business Bank in response to the Covid-19 outbreak, the Coronavirus Business Interruption Loan Scheme (CBILS) is designed to support UK small and medium-sized businesses who have been adversely affected by the  outbreak. It is only available through accredited CBILS lenders.

The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow.

Key features

  • You can apply for a CBILS backed loan from Enterprise Answers of up to £100,000
  • Repayment terms up to 5 years
  • No guarantee fee for SMEs to access the scheme
  • The borrower remains fully liable for the debt
  • The scheme provides the lender with a government-backed guarantee for 80% of the value of the loan
  • No personal guarantees for facilities under £250,000
  • Principal Private Residence (PPR) – A borrowers/guarantors PPR cannot be taken as security to support a Personal Guarantee or as security for a CBIL backed facility
  • The Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied fees, so smaller businesses will benefit from no upfront costs and lower initial repayments

Eligibility

To apply for a CBILS loan through Enterprise Answers your business must be based in:

  • Cumbria
  • The Yorkshire Dales
  • North Lancashire

You must also:

  • Require a loan of between £50,001 and £100,000
  • Have an annual turnover of no more than £45 million
  • Have a borrowing proposal which we would consider viable, if not for the coronavirus pandemic
  • Be able to self-certify that your business has been adversely impacted by coronavirus
  • Have not already taken a loan through the Bounce Back Loan Scheme
  • Have less than 250 employees (full-time equivalent)

Your business must generate more than 50% of its turnover from trading activity.

Your CBILS-backed facility will be used to support primarily trading in the UK.

You must not be a business in difficulty. For more information, please refer to www.british-business-bank.co.uk/CBILS.

Eligibility & Application

Currently, to be eligible for CBILS through Enterprise Answers, you must be a business based in Cumbria, North Lancashire or The Yorkshire Dales. We strongly encourage any business, including existing Enterprise Answers clients, looking for the support of CBILS, to contact their original finance provider and bank in the first instance.

A video guide to CBILS

This is a loan product, not a grant, and so serviceability must be demonstrated. It may also be necessary to provide security. Note that no business owner will be asked to put up their principal private residence as security. Note also that we are limited in how many businesses we can support with this scheme as we only have a very small allocation.

For businesses who are not eligible to apply for a loan from Enterprise Answers, you should approach another accredited CBILS lender 

To commence your application with us, please complete the enquiry form

The Coronavirus Business Interruption Loan programme 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. For full details visit www.british-business-bank.co.uk/CBILS