How does a small business apply for an CBILS-Backed facility?
It’s simple to apply and should take no longer than a standard application. Any small business interested in CBILS should, in the first instance, approach one of the 40+ accredited lenders with their borrowing proposal.
If the accredited lender can offer finance on normal commercial terms without the need to make use of the scheme, they will do so. Where the small business has a sound borrowing proposal but insufficient security, the lender will consider the business for support via the scheme.
Disclaimer: We are in the process of defining and agreeing the scheme’s details, specifications and eligibility and therefore information is subject to change. We will be updating our webpages to reflect any potential changes to CBILS as and when they are published.
Decision-making on whether a business is eligible for CBILS is fully delegated to the 40+ accredited lenders.
- The CBILS guarantee is to the lender and not the business
- As with any other commercial transaction, the borrower is always 100% liable for repayment of the facility supported by CBILS
CBILS decision making is fully delegated to the accredited lenders. Any queries from a business with an active or historic EFG facility, including guarantee fee collection or alterations to their repayment profile should raise them with their lender, and not with the British Business Bank.