Search Login Back to Commercial Banking Coronavirus Business Interruption Loan Scheme Provided by Arbuthnot Latham The Coronavirus Business Interruption Loan Scheme is now closed to new applications. Please note, applications received by 23.59 on 31 March 2021 can still be processed through to 31 May 2021. If you have a query about CBILS, or wish to discuss an outstanding application, please email us CBILSTeam@arbuthnot.co.uk. Recovery Loan Scheme A new debt finance programme, the Recovery Loan Scheme (RLS), was announced by the Government in the Budget on 3 March 2021. The new Scheme, which will open on 6 April 2021, aims to support businesses affected by Covid-19 as they recover and grow following the pandemic. RLS supports a maximum facility size of up to £10m with minimum facility sizes starting at £1,000 for Invoice and Asset Finance and £25,001 for Term Loans and Overdrafts. Further information can be found on the British Business Bank website. Arbuthnot Latham is an accredited lender of the government’s Coronavirus Business Interruption Loan Scheme (CBILS). CBILS offers affected businesses with turnover of up to £45m the opportunity to borrow up to £5m, for a term of up to six years. If your business has been affected by Coronavirus and you meet the eligibility criteria, please email us at CBILSTeam@arbuthnot.co.uk to discuss what this could mean for your business. If you are a client of Arbuthnot Commercial Asset Based Lending, please instead visit their page on CBILS loans for more information. About CBILS Government backed initiative provided by the British Business Bank Loan value between £50,001 and £5m No interest, fees or repayments for the first 12 months of the loan Term loans available up to six years Revolving credit facilities available up to three years Eligibility Existing Arbuthnot Latham clients have priority to facilities, however new applicants will be considered Scheme minimum £50,001 Your business, or group of businesses must have an annual turnover of no more than £45m Your business must be based in the UK Your CBILS backed facility must be used to support primarily trading in the UK Your business must generate more than 50% of its turnover from trading activity You must have a borrowing proposal which, were it not for the current pandemic, would be considered viable You must self-certify that you have been impacted by the Coronavirus pandemic (COVID-19). Additional security and personal guarantees may be required You will need to provide: Prior year end annual accounts Up to date management information 12 months P&L, balance sheet, and cash flow forecasts Evidence of the measures taken to mitigate the impact of the Coronavirus pandemic The above requirements will vary and is not an exhaustive list If you are looking for a CBILS loan with Invoice Financing (asset based lending), please instead visit Arbuthnot Commercial Asset Based Lending. Important information The scheme provides Arbuthnot Latham with a government-backed guarantee to facilitate lending during a time when the borrower may not have passed ‘normal’ lending criteria thresholds. The Government guarantee is to Arbuthnot Latham (‘the lender’). Your business (‘the borrower’) remains liable for 100% of the loan. Contacts Garey Reyes Commercial Banker GareyReyes@arbuthnot.co.uk +44 (0) 7909 256476 Richard Winckles Senior Commercial Banker RichardWinckles@arbuthnot.co.uk +44 (0) 7760 712744 About the Scheme 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 of State for Business, Energy and Industrial Strategy (BEIS). Managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk Brochures & email subscriptions Request a brochure, or subscribe to our email updates. Apply now For business. For family. For life. Contact Brochures and email subscriptions Careers FSCS Important information Complaints Cookies policy Terms of use Privacy notice Products & terms Security Statement Fraud awareness Arbuthnot Direct Follow us on social Copyright © 2021 Registered in England and Wales No. 819519. Arbuthnot Latham & Co., Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Arbuthnot Latham & Co., Limited is on the Financial Services Register under Firm Reference Number 143336. Contact Us Cookie Control Icon