Full list of COVID Loan / CBILS Providers and their criteriaPublished on 27th March 2020 2020-03-27T11:12:35+00:00 - Last update on 26th August 2020 2020-08-26T16:38:10+00:00
Rangewell are business finance specialists who work with SMEs and their advisors to help them find, compare and apply for business finance.
We have collated this comprehensive list of all CBILS Lenders and are seeking answers to the following questions:
- What their lending criteria are
- What guarantees they are requesting
- How individual businesses can apply
- Their expected timescales and credit processes
- How they are prioritising lending (eg. focusing on current business borrowers or willing to talk to new borrowers)
We anticipate updating this list every few days, so please check back regularly. If you are a lender and want to provide an update via this page please email [email protected].
For speed readers, Yellow text suggests caution and Green text highlights a positive situation
1PM - Only working through their network of brokers at this time.
4syte - Will only offer CBILS loans alongside an Invoice Finance facility so you need to be a B2B business.
Abn Amro Commercial Finance - No direct page for borrowers to apply to as yet but brief details can be found HERE. ABN AMRO Commercial Finance representative has told us that they will not be offering the CBILS as a standalone product. The scheme will only be available alongside their Receivables Finance offering.
Adam & Company - Accredited for CBILS and BBL. Not seeking new or increased personal guarantees and are only offering the facility to existing customers at this time.
AIB - Existing customers can contact them HERE or request a call back HERE. You are likely to need to provide some or all of the following: Management accounts, cash flow forecast, business plan, historic accounts and details of assets.
Aldermore - offering loans between £50k up to £750k maximum. Access is only via a broker.
Arkle Finance - A full application form is available HERE and a brief overview of the scheme is available HERE. Arkle are Asset Finance lenders and are offering their Hire Purchase & Finance Lease products under the scheme for borrowers to purchase new equipment for their Business (refinance of current assets may also be considered by exception). Arkle are offering loans of between £5,000 - £500,000+VAT over 2-5 years and haven't changed their underwriting criteria significantly, but are looking at impacted sectors more closely. You can submit a COVID-19 Impact Report Form HERE to support your application. Open to existing customers only currently.
ART Business Loans - No direct page for applications at the moment but they have provided useful information on how to contact them HERE. Loan support will only available across the West Midlands, Herefordshire, Shropshire, Worcestershire and Warwickshire.
ASK IF Inclusive Finance - You can start your enquiry HERE. ASK IF can offer CBILS loans from £10,000 up to £60,000.
Atom Bank - offering Term Loans under CBILS. No current option to apply online, only to find a local broker.
Bank of Ireland UK - Bank of Ireland don’t currently have a direct page to apply for CBILS but they do have general guidance HERE and an infographic HERE. They tell us they will be offering Term Loans and Revolving Credit Facilities but it appears this will only be in Northern Ireland.
Barclays - you can contact them on a dedicated COVID-19 helpline which is 0800 1971 086 and is open weekdays from 8am to 8pm. You can also request a call back to check eligibility for funding HERE. Alternatively, you can find a local business manager depending on your area HERE.
BCRS Business Loans - apply for the scheme directly HERE. BCRS advise that they can only support businesses based in the West Midlands.
British Enterprise Fund - you can register to apply for CBILS through British Enterprise Fund HERE. In addition to CBILS, they are also offering Working Capital Loans and are actively supporting new applications for Start-up Loans. You can find out more HERE. They are offering loans up to £25,000.
Calverton Finance - you can apply for the scheme directly HERE. However, you must also request additional funding from Calverton and they will not be offering CBILS as a standalone product.
Capital On Tap - offering credit facilities from £50,001 up to £100,000. There will be an option to apply online HERE but in the meantime customers can contact them on 0208 962 7401 or by email on [email protected].
Chamber Acorn Fund - We have been informed that although they are a partner of the CBIL programme, at this time they don't have sufficient capital in order to participate in the scheme.
Close Brothers - offering CBILS only alongside an Invoice Finance facility - not offering standalone loans. Can offer additional lending up to £5m over a maximum term of 3 years. No specific CBILS application via the website as yet but existing customers should contact their Account Manager and new customers should contact 0808 149 9318.
Clydesdale - you can apply for CBILS through Clydesdale HERE. If you need to speak to the team about a new or existing application, you can contact them on 0800 032 3971.
Compass Business Finance - If you are a print, packaging or engineering company, you can apply to the scheme via Compass directly HERE.
Co-operative Bank - offering Term Loans and Overdrafts from £1k-£5m. If you are an existing customer and require an overdraft facility, you can apply directly HERE. For any other type of funding, you must email [email protected] and include the following information: Business name and postcode, Account number, Email address, Phone number, Facility required (loan, charge card), Amount you want to borrow, Purpose of borrowing, How long you want the facility for.
County Finance Group - there is no option currently to submit an application via the website, however, you can request a call back HERE or make an enquiry HERE. Note that they are quite a small lender and they state “We have been inundated with calls in respect of the CBILS facility and we are trying our best to speak and discuss all of the enquiries that are coming in.”
Coutts (part of RBS) - offering Term Loan variants, you can apply directly by downloading and completing the relevant application forms for the CBIL Scheme HERE.
Coventry & Warwickshire Reinvestment Trust - only accepting applications for the scheme from businesses based in Coventry and Warwickshire. You are unable currently to apply directly online, but you can use the general contact form to get in touch with someone HERE.
Cynergy Bank - initially offering the scheme to existing customers only, but do plan to add new customers in the future. There is no option to apply directly on their website, they are asking customers to contact their Relationship Manager.
Danske Bank - There is currently no way to apply directly on the website at this time. They recommend that you contact your Relationship Manager suggesting that they will be prioritising current customers.
DSL Business Finance - you can request an action pack HERE. Please note that only Scottish businesses will be eligible.
Ebury - offering Revolving Credit Facilities under CBILS. You can contact them HERE to enquire about funding under the scheme.
Enterprise Answers - you cannot currently apply directly online, nor is there any specific guidance on CBILS, but you can contact them on 01768 867118 or email [email protected]. It is worth noting that normal applications require a business plan, financial forecasts, annual and Management accounts.
Finance for Enterprise - helping businesses across South Yorkshire, North Midlands and Mid/North Lincolnshire and, although there is nothing specific on their website on CBILS, you can contact them on their generic form HERE.
First Enterprise - nothing up yet but details of their offering will be on their website soon HERE.
Fleximize - offering Term Loan variant under CBILS. You can register your interest HERE and Fleximize will notify you when they start accepting applications.
Funding Circle - recently added to the scheme and offering loans from £10,000. There isn't currently an option to apply on their website but you can sign up for updates HERE.
GC Business Finance - you can apply directly on their website HERE. GCBF can support North West - based businesses with loans from £25,000 up to £100,000.
Genesis Asset Finance - offering Asset Refinance facilities to both new and existing customers. They are also able to offer support to businesses wishing to acquire additional equipment through CBILS in the form of Hire Purchase and Finance Leasing. They are also offering a ‘Refinance Rewrite’ facility to existing customers only. To find out more about any of their offers, contact them on 0161 371 1160. They currently do not have any facility to apply directly online.
Haydock Finance - only dealing with the Asset Finance part of CBILS. However, you need to contact an Asset Finance broker and not Haydock Finance directly as their business model does not support this.
Hitachi Capital UK - there is nothing currently on the website specifically about CBILS but this is subject to change. However, you can contact them directly HERE to make an enquiry.
HSBC - existing customers can log in to their internet banking account, otherwise all customers can contact HSBC HERE. Term Loans will be part of HSBC’s offering for CBILS.
Investec - will be offering Term Loans, Asset Finance and Invoice Finance under the CBIL Scheme. There is currently no ability to apply online but you can find ways to contact Investec HERE.
Let’s Do Business Group - supporting small businesses in Essex, Sussex, Surrey, Suffolk and Ken only to access CBILS if their own bank can’t help in the first instance. You can apply directly HERE.
Leumi ABL / Bank Plc - Nothing as yet on their website about applying directly.
Lloyds Bank - business banking customers can directly apply for the scheme HERE or contact their dedicated Relationship Manager. Currently for existing clients only.
Market Finance - offering Term Loans between £50,001 to £150,000 and Invoice Finance facilities from £50,001 up to £5m. You can register your interest for CBILS HERE.
Merseyside Special Investment Fund - there is currently nothing about CBILS on their website but you can contact them on their general form HERE.
Metro Bank - they will be adding ways to apply to their website in the coming days but their guidance on those affected and seeking help with CBILS can be found HERE.
NatWest / RBS - Small business loans from £1,000 up to £50,000 can apply directly to the scheme via the website HERE. Loans up to £5m are available and should be discussed with your Relationship Manager. Please note, a personal, director or member’s guarantee may be required and unfortunately, they will NOT consider Coutt’s clients as Coutts are trying to get onto the CBILS scheme themselves. We have been told that Natwest are asking businesses to apply to their current lender first and only if their lender formally rejects them will they consider their application. They will also want to know why the current lender has rejected the application.
Newable - Loan amounts remain from £26,000 up to £150,000 but you should follow the CBILS guidelines in terms of wage bills and turnover limits. Rangewell can submit your application in the normal manner and we will ensure Newable is aware your application is part of CBILS because your business has been negatively impacted by the disruption caused by COVID-19.
OakNorth Bank - offering Term Loans from £500,000 to £5m and will be opening up applications from new customers in time, but currently focusing on existing customers. You can log into your OakNorth account HERE.
Santander - customers are being advised to speak to their Relationship Managers. Businesses with up to two directors, owners or partners can apply directly online HERE for a business overdraft from £500 up to £25,000.
Secure Trust Bank - Nothing specific to CBILS on the website yet but new customer applications are on hold.
Shawbrook Bank - only offering Term Loans to existing Shawbrook customers. Customers can either contact their Relatioonship Manager or apply online HERE.
Skipton Business Finance - will only run CBILS alongside Invoice Finance facilities and not as standalone products. You must be B2B but can submit an enquiry directly on the website HERE.
Social Investment Business - offering Term Loans under CBILS between £100,000 and £500,000 with terms of 1-3 years. Only social sector organisations, charities and social enterprises are eligible for this fund. You can apply directly HERE.
Starling Bank - are offering Overdrafts of £1000-£150,000 and Term Loans of £5000-£250,000. Applications will be offered through the Starling website and be made accessible ASAP.
SWIG Finance - only working with businesses based in the South West. You can apply for loans up to £100,000 and can apply directly HERE.
RBS - see NatWest / RBS also. You can apply directly for an RBS Small Business loan HERE.
Tower Leasing Ltd - approved for Asset Finance applications. Advances can be from £5000 up to £100,000. Eligibility is for new and existing Tower customers. Application is by contacting Tower directly on 01753 837 050.
TSB - are currently implementing CBILS and will have something on their website in the coming days.
Ulster Bank - you can apply directly for lending through their normal application channels HERE.
Ultimate Finance - able to process Term Loan applications alongside new and existing Invoice Finance facilities. If you already have an existing Invoice Finance facility with Ultimate, they are recommending you speak to your Relationship Manager. New applicants can apply HERE.
White Oak - offering Term Loans from £50,001 up to £5m over a maximum 2 year term. Apply directly HERE.
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