The government has yet to confirm the final details but we know quite a lot already because CBILS is based on the existing Enterprise Finance Guarantee (EFG). Small and medium-sized businesses that are viable (and have a good track record) but aren't able to access finance because they have insufficient security to meet the lender’s normal requirements may apply. The borrower always remains 100% liable for the debt. The CBILS provides the lender with a government-backed guarantee of up to 80% against the outstanding facility balance, potentially enabling a ‘no’ credit decision from a lender to become a ‘yes’.