• Decisions typically
    within 24 hours

  • Multiple CBILS
    accredited funders

  • No personal guarantees for finance under £250k

  • No repayments for
    the first 12 months

  • Terms up to 6 years
    with no ERC or fees

CBILS Overdraft

Are you looking for a flexible credit facility that gives your business the funds it needs as and when it is really needed?

Our funder has a fantastic finance facility that is both flexible and fast. This unique product can be secured against the business’s debtors’ book, stock as well as the businesses plant and machinery, helping your business raise the funds as and when needed.

Your business will be approved for a set amount and you can then drawdown from that facility as and when your business needs the funds, only paying interest on the amount that is outstanding.

With no early repayment fees or hidden charges, this is a fantastic facility that can sit alongside other CBILS approved products.

Pre-Covid19 financials are taken into consideration when you apply.

Key features of the credit facility:

  • Funding of £100,000 – £5,000,000

  • Terms between 2 years and 3 years

  • Rates between 8% – 14%

  • No personal guarantees required

Backed by the Government and administered by the British Business Bank, the Coronavirus Business Interruption Loan Scheme (CBILS) will cover any fees or interest that would be payable for the first 12 months of this product.

The CBILS initiative supports a wide range of business finance products with the Government guaranteeing 80% of each loan provided under the scheme.

CBILS Eligibility Criteria

If you answer yes to all the following, then you may be eligible to apply for the CBILS.

  • Is your business UK based?

  • Does your business have an annual turnover of up to £45 million?

  • Would your business be viable were it not for the pandemic?

  • Has your business been adversely impacted by the coronavirus?

Who can apply for the Coronavirus Business Interruption Loan Scheme?

Businesses from any sector can apply, except:

  • Banks, insurers and reinsurers (but not insurance brokers)

  • Public-sector bodies

  • State-funded primary and secondary schools

The Funding Store have a panel of CBILS accredited lenders that can assist with your search for that right business finance.

Once you have decided what best suits your business needs then why not contact us on 01908 880420 or request a call back at a more convenient time.

Please note that your business will be liable for 100% of the debt. When taking out funding through the BBLS or CBILS, the business is liable for the full loan amount. If the business is unable to repay, the scheme provides a guarantee to the lender, not to the business.

How it works

CBILS application form

Or click here for a quick quote

Eligibility Criteria

  • UK registered businesses

  • Turnover: £500k-£45m

  • 12 months trading history

  • Over 50% of turnover from trading activity (e.g. not from investments)

  • Facility primarily for trading activity in the UK

  • The company has been impacted by the coronavirus pandemic

Download our CBILS overdraft brochure today

DOWNLOAD

Documents we require

  • 2019 Year-End Profit and Loss statement and balance sheet

  • Year-to-date Profit and Loss statement and balance sheet

  • Last 3 months business bank statements

  • HMRC Screenshot for VAT and PAYE

  • Cash flow or profit-and-loss forecast for the next 12 months or ideally next 36 months