Coronavirus Business Interruption Loan Scheme (CBIL)


***We are seeing an unprecedented amount of enquiries. Please be patient with us and we promise that we will be in touch with you in due course***

***We strongly suggest that new enquiries are submitted via the online enquiry form for a speedier response***


The Coronavirus Business Interruption Loan (CIBL) Scheme is provided by the British Business Bank, of which Skipton Business Finance is an accredited lender. The aim of the scheme is to support the continued provision of finance to UK businesses during the Covid-19 outbreak.


How Much Can I Borrow?

UK businesses can apply borrow up to £5m via the scheme. Skipton Business Finance will only provide a facility under the scheme to run alongside an Invoice Finance facility. Standalone applications unfortunately will not be considered. 


Am I Eligible?

This scheme is specifically designed for businesses who can demonstrate a proven track record of success prior to the disruption caused by the current COVID-19 pandemic.

Businesses will need to articulate their cashflow requirements to successfully trade through the short to medium term.


How To Apply?

Simply click the button below and complete the enquiry form:

Make a Quick Enquiry

 

At Skipton Business Finance, we appreciate that businesses across the UK will be going through a very difficult period.

We're here to help you in whatever way we can. 

Below are a number of answers to frequently asked questions you may have, however please do get in touch if you feel that you need to know more detailed information. 


Will I have to pay interest on my loan?

The loan is interest free for the first 12 months, after this period normal commercial rates will apply. No early repayment charges will be applied on the loan.


Can Skipton Business Finance provide a standalone Coronavirus Business Interruption Loan?

No. The Coronavirus Business Interruption Loan (CIBL) Scheme can only be accessed alongside an Invoice Finance facility with Skipton Business Finance. 


What is the maximum term of the Coronavirus Business Interruption Loan (CIBL) Scheme?

Products covered by the scheme have a maximum term of 6 years. 

Repayment holidays of up to 6 months will be made available.


Is the Coronavirus Business Interruption Loan (CIBL) Scheme a loan or a grant?

The scheme is not a grant. The scheme provides a Government guarantee to Skipton Business Finance to allow us to provide finance, but you will still have to repay this loan or facility.

The Government has announced a number of support measures for businesses such as grants which businesses may be eligible for. Further information on these initiatives is available here.

 

Skipton Business Finance provides businesses with working capital through flexible Invoice Finance solutions, including Invoice Factoring, Invoice Discounting, My White Label and our interest-free Skipton Select solution. We can provide working capital to a business by advancing funds varying from £25,000 up to £5m alongside the Coronavirus Business Interruption Loan (CIBL) Scheme.

The Invoice Finance solutions we provide can be used on a confidential or disclosed basis. 


Find out more

At Skipton Business Finance, we offer the following types of Invoice Finance: