Which financial providers are accredited as CBILS lenders?

These are the financial service providers accredited by the BBB to allocate the Coronavirus Business Interruption Loan Scheme (CBILS).

21 May 2020

The Coronavirus Business Interuption Loan Scheme (CBILS) is a government-backed lending initiative, designed to give financial support to small businesses losing revenue due to the coronavirus pandemic. It will be delivered via the British Business Bank (BBB) through the accredited lenders listed below. Businesses with a turnover of less than £45m can apply for loans of up to £5m and also access invoice finance, overdrafts and asset finance.

The first 12 months of any CBILS loan agreement are interest-free and loans of less than £250,000 are available on an unsecured basis. The borrowing business will always remain responsible for 100% of the debt and be required to pay off the borrowed sum in full.

Is iwoca an accredited CBILS lender?

Yes, the British Business Bank (BBB) recently accredited us as a CBILS lender. Check to see if you can apply for a CBILS loan through us here.

The details of our CBILS loan will be:

  • loans of £50,001 – £250,000 (up to a max of 25% of your 2019 turnover)
  • up to 3 year terms (with no early repayment fees)
  • a 12 month repayment holiday
  • no personal guarantee
  • 5.9% – 7.8% APR

Every care has been taken to ensure this information is accurate. However, if you see anything that needs updating, please email us on insights@iwoca.co.uk.

We're an accredited CBILS lender.

CBILS loans available nationwide

These are listed in alphabetical order

ABN AMRO Commercial Finance

Product: Invoice finance
Eligibility: Existing customers of a Receivables Finance facility with ABN AMRO Commercial Finance, annual turnover above £2.5m and below £45m
Size: Unknown
Duration: Up to 3 years
Rates: Unknown
Application: Enquire via their online form

Find more information here

Allied Irish Banks

Product: Loan
Eligibility: Standard CBILS criteria
Size: Up to £5m
Duration: Up to 6 years
Rates: Case by case basis
Application: Call them on 03456 005 204 or request a callback

AskIf

Product: Loan
Size: £10,000 to £60,000
Duration: Six months to six years
Rates: 15% per annum and 6% arrangement fee
Application: Fill in an online application form then speak with a loan manager to discuss.

Bank of Ireland (UK)

Product: Loan
Eligibility: Standard CBILS criteria, annual turnover below £45m
Size: Up to £5m
Duration: Up to six years
Rate: Unknown
Application: Find out how to apply on their website or call directly on 0800 109 010 (9am to 5pm Monday to Friday).

Bank of Scotland

Product: Loan
Eligibility: Existing customers only
Size: £25,000 - £5,000,000
Duration: Up to six years
Rates: On a case by case basis
Application: Contact your relationship manager or complete the enquiry form

Barclays

Product: Loan
Eligibility: Businesses going through insolvency cannot apply
Size: £25,000 - £5,000,000
Duration: One to six years
Rates: Fixed / floating, upon application
Application: Check your availability online or call 0333 202 7446.

Calverton Finance

Product: Loan
Eligibility: For current invoice finance customers
Size: £5,000 to £10,000
Duration: Three to 36 months
An additional % advance to your invoice factoring facility
Rates: 2% quarterly fee to the government
Application: Complete an EFG Scheme eligibility form, then speak with their team.

Close Brothers

Product: Loan
Eligibility: Only for invoice finance customers (usually for B2B companies with turnover of £500k or more per annum)
Size: Up to £5m
Duration: Up to three years
Rate: Unknown
Application: Existing invoice finance customers can contact their account managers. New customers interested in applying for both an invoice finance and CBILS facility can call 08081 499318 to apply. Visit the website for more information

Compass Business Finance

Product: Loan
Eligibility: Print, packaging or engineering companies only
Size: Unknown
Duration: Unknown
Rates: Upon application
Application: Apply online

Cynergy Bank

Product: Loan
Eligibility: To be confirmed
Size: To be confirmed
Duration: To be confirmed
Rate: Unknown
Application: Cynergy Bank are currently working through the scheme process and will advise when applications will be opened.Visit the website for more information

Danske Bank

Product: Loan
Eligibility: No bank-specific criteria provided
Size: £25,000 to £5,000,000
Duration: Up to six years
Rates: Fixed interest rate; variable, on a case by case basis
Application: For more information, visit the Danske Bank website

HSBC

Product: Loan
Eligibility: Existing HSBC business customers, plus standard CBILS criteria
Size: From £10,000
Duration: Up to six years
Rates: Fixed interest rate; variable, on a case by case basis
Application: For more information, call 0800 0113 317 or visit the website

Lloyds

Product: Loan
Eligibility: Existing Lloyds Bank customers; full criteria here
Size: £25,000 to £5,000,000
Duration: Up to six years
Rates: Fixed interest rate; variable, on a case by case basis
Application: Download the Lloyds form and return

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Metro

Product: Loan
Eligibility: Existing customers only
Duration and Rates: Unknown
Application: Contact your designated Local Business Manager or Relationship Manager or call their Telephone Business Managers on 0203 402 8054 between 8am and 6.30pm, Monday to Friday.

*The Metro Bank is still to release more information on their CBILS participation. Read their FAQ here

Natwest

Product: Loan
Eligibility: Standard CBILS criteria
Size: From £5,000 to £5m
Duration: Up to six years
Application: Apply for a Natwest loan product using the normal application process. More information

Newable

The Financial Times has reported that Newable have withdrawn from the CBILS scheme. For more information visit the website or call Newable on 0207 2603100.

New Enterprise Allowance

Product: Loan
Eligibility: Self-employed and receiving Universal Credit. The business must be less than two years old
Size: £25,000
Duration: One to five years
Rates: 6% per annum
Application: Fill in an application form and provide a business plan, a cashflow forecast and a personal survival budget

OakNorth Bank

Product: Loan
Eligibility: Currently only for existing customers, plus standard CBILS eligibility criteria.
Size: To be confirmed
Duration: To be confirmed
Rate: Unknown
Application: To be confirmed. Visit the website for more information

Royal Bank of Scotland

Product: Loan
Eligibility: No bank-specific criteria provided
Size: £1,000 to £50,000
Duration: One to seven years (10 years available upon request)
Rates: Fixed interest rate; variable, on a case by case basis
Application: More information, apply online

Secure Trust Bank

Product: Loan
Eligibility: To be confirmed
Size: Over £1m only
Duration: To be confirmed
Rate: Unknown
Application: Secure Trust Bank are currently working through the scheme process and will advise when applications will be opened. Visit the website for more information

Santander

Product: Overdraft, loan
Size: £500 to £25,000
Eligibility: Need a viable business plan and a turnover below £45m
Duration: Up to six years
Rates: Variable
More information: Details on their CBILS fact sheet

Shawbrook bank

Product: Loan
Eligibility: Standard CBILS criteria, click here to view it
Size: Between £250,000 to £5m
Duration: 1 – 3 years
Rate: Unknown
Application: Existing customers can complete this enquiry form

Starling Bank

Product: Loan
Eligibility: Limited companies trading for more than 18 months, plus standard CBILS criteria
Size: Between £5,000 to £250,000
Duration: Up to five years
Rate: Unknown
Application: Apply via the Starling website

The Co-operative Bank

Product: Loan
Eligibility: Standard CBILS criteria, annual turnover below £45m Size: Up to £5m
Duration: Up to six years
Rate: Unknown
Application: For more information, visit their website

TSB

*TSB are currently working on implementing their participation in the CBILS with more information to come. Please visit their website for more details

Ulster Bank

Product: Loan
Eligibility: Businesses that don't have the security to get a conventional commercial loan
Size: £5,000 to £5,000,000
Duration: One to six years
Rates: Variable and fixed rates are available
Application: Apply for a standard Ulster Bank loan product and your application will be considered under the CBILS scheme.

CBILS loans available regionally

This list is in alphabetical order

ART Business Loans

Product: Loan
Region: The West Midlands
Eligibility: Business must have been declined by a bank
Size: £10,000 to £150,000
Duration: Six months to six years
Rates: 10% to 18% per annum
Application: Fill out the PDF application form and submit via post or email. A loan manager will contact you for next steps.

Bank of Ireland

Product: Loan
Region: Northern Ireland
Eligibility: Standard CBILS criteria
Size: £25,000 to £5m
Duration: One to six years
Rates: Variable
Application: Contact direct

BCRS

Product: Loan
Region: West Midlands
Size: £10,000 to £150,000
Duration: One to six years
Rates: 13.75% per annum
Application: Apply online

Business Enterprise Fund

Product: Loan
Region: North
Eligibility: Various options for different types of business
Duration: Up to six years
Size: Up to £250,000
Rates: Variable
Application: Register, fill in application form, then speak to a loan manager about your business.

Chamber Acorn Fund (Humber) Ltd

Region: North East
Accredited but not currently participating in CBILS
Call 01482 324976 for more information

Clydesdale Bank

Product: Loan
Region: Scotland
Eligibility: Existing customers only
Size: £25,001 to £5m
Duration: One to 10 years
Rates: Variable
Application: Apply online or call 0800 032 3971.

CWRT

Product: Loan
Region: The West Midlands
Eligibility: Coventry or Warwickshire based. Businesses that have been unable to raise sufficient, if any funding from their bank. This includes partial rejection when the applicant needs additional funds alongside those provided by other lenders.
Size: £1,000 to £75,000
Duration: six months to five years
Rates: Up to 18.75% per annum plus 5% arrangement fee
Application: Apply online

Danske Bank

Product: Loan
Region: Northern Ireland
Eligibility: Standard CBILS criteria
Size: £25,000 to £5m
Duration: One to six years
Rates: Variable
Application: Contact direct

DSL Business Finance

Product: Loan
Region: Scotland
Size: £1,000 to £50,000
Duration: One to five years
Rates: 6% to 9% per annum
Application: Enquire online

Enterprise Answers

Product: Loan
Region: The North
Eligibility: Based in Cumbria, North Lancashire or The Yorkshire Dales.
Size: £10,000 to £200,00
Duration: Three to 10 months
Application: Fill in an online application form

Finance For Enterprise

Product: Loan
Region: North
Size: £1,000 to £250,000
Eligibility: Most businesses based in the Sheffield City Region, the Humber region, Lincolnshire and the North Midlands are eligible to apply Duration: One to five years
Rates: Variable – between 9% and 15%, plus a 3% arrangement fee
Application: Download and complete an application form, and submit your business plan and financial accounts, or begin by calling 0333 014 3455.

First Enterprise

Product: Loan
Region: East Midlands and South East Midlands
Eligibility: Unknown
Size: £25,000 to £150,000
Duration: One to six years
Rates: Unknown
Application: Call on 0115 942 3772 or email on reception@first-enterprise.co.uk.

GC Business Finance

Product: Loan
Region: North West

Eligibility: B2B companies only
Size: £3,000 to £100,000
Duration: One to five years
Rates: 10% to 15% per annum
Application: Apply online

Let's Do Business (East)

Product: Loan
Region: East England
Eligibility: Standard CBILS criteria, businesses based in Essex, Sussex, Surrey, Suffolk or Kent
Size: Up to 100,000
Duration: three months to six years
Rates: Variable from 9%
Application: by form here

Let's Do Business (South)

Product: Loan
Region: South
Eligibility: Operate within an eligible industrial sector. Have a sound borrowing proposal, but insufficient security to meet the lender’s requirements.
Size: Up to 100,000
Duration: three months to seven years
Rates: From 9%
Application: By form here

Merseyside Special Investment Fund

Product: Loan
Region: North West
Eligibility: Existing customer
Size: Up to £5,000,000
Duration: Unknown
Application: Contact your manager at MSIF or call their team on 0151 236 4040.

Robert Owen

Product: Loan
Region: Wales
Eligibility: Standard CBILS criteria
Size: £1,000 to £25,000
Duration: One to five years
Rates: Fixed interest rate with typical APR 17.12%.
Application: Request a call back online

South West Investment Group

Product: Loan
Region: South West
Size: £10,000 to £60,000
Duration: Six months to five years
Rates: 12.00% ABR
Application: Apply online and they will contact you for next steps.

Skipton Business Finance

Product: Loan
Region: North West
Eligibility: Existing customers with an active invoice finance facility, with turnover below £45m. B2B companies in sectors: manufacturing, printing, haulage, services and recruitment.
Size: From £25,000 to £5,000,000
Duration: Up to six years
Rate: On a case by case basis Application: Complete their online enquiry form

UKSE

Product: Loan
Region: North
Eligibility: The business must be based in an area affected by the decline of the steel industry. For more information, fill out the online eligibility tool
Size: Up to £100,000
Rates and duration: On a case by case basis
Application: Apply online or get in contact direct.

Ulster Community Investment Trust (UCIT)

UCIT have not yet to announced details of how they plan to deliver CBILS.

Yorkshire Bank

Product: Loan
Region: North
Eligibility: Existing Yorkshire Bank customers only
Size: £25,001 to £5m
Duration: One to 10 years
Rates: Variable
Application: Apply online or call 0800 032 3971.

CBILS alternative finance available nationwide

1PM Finance

1PM Finance have not yet announced how they plan to deliver CBILS loans

Adam & Company

Product: Loan
Eligibility: Standard CBILS criteria
Size: From £50,001 to £5m
Duration: Up to six years
Rate: Unknown
Application: Complete their application form

Aldermore

It has been reported that Aldermore has withdrawn from the CBILS scheme. For more information, visit Aldermore's Contact page

Arkle Finance

Product: Asset Finance
Eligibility: Standard CBILS criteria, annual turnover below £45m
Size: From £5,000 to £500,000 + VAT
Duration: Between two and five years
Rate: Unknown
Application: Complete their online application form here

Assetz Capital

Product: Loan
Eligibility: See their website for details
Size: From £250,000 to £5m
Duration: Up to five years
Rate: Unknown
Application: Register your interest

Atom bank

Atom bank are yet to release information on how they will deliver CBILS

Bank Leumi

Bank Leumi are yet to release information on how they will deliver CBILS

Bibby Financial Services

Bibby Finacial Services are yet to release information on how they will deliver CBILS

Calverton Finance

Product: Invoice finance Eligibility: For current invoice finance customers Size: Additional invoice advances of up to £100,000 Benefit: An additional % advance to your invoice factoring facility Rates: 2% quarterly fee to the government Application: Complete their EFG Scheme eligibility form then speak with their team.

Captial On Tap

Product: Loan
Eligibility: See their website for details
Size: From £50,000 to £100,000
Duration: Unknown
Rate: 9.9% – 14.9% APR
Application: Not yet available

County Finance Group

Product: Asset Finance Application: Visit the County Finance Group website

County Finance Group is still to release more information on their CBILS participation.

Coutts

Product: Loans
Size: £50,001 – £5m
Duration: Six years
Application: Complete and return their form

Ebury

Ebury have not provided any details on how they plan to deliver CBILS. If you are an existing customer, contact them via this form.

Fleximise

Product: Loans
Size: £50,001 – £500,000
Eligibility: Six months trading history, haven't taken out loan under BBLS. Full details here.
Interest rate: 14.99% fixed
Duration: 12 to 48 months
Application: Not yet announced, see above link for details

Funding Circle

Product: Loans
Size: £10,000 – £250,000
Eligibility: Standard CBILS and three years trading history
Duration: Two to five years
Application: Apply online

Genesis Asset Finance

Product: Asset finance
Size: Between £5,000 and £100,000
Duration: On a per client basis
Application: Contact them on direct on 0161 371 1160 or via their website

Haydock Finance

Product: Asset finance
Size and duration: On a per client basis
Application: Apply through their broker network or call direct on 01254 685858.

Hitachi Capital (UK)

Product: Asset finance, Loan
Eligibility: Existing customers have priority
Size and Duration: On a per client basis
Application: Apply through their broker network or call direct on 01254 685858.

Independent Growth Finance

Product: Invoice finance, loan
Eligibility: Standard CBILS criteria
Size: Up to £5m
Duration: On a per client basis

Investec

Investec are yet to announce details of how they plan to deliver CBILS.

Liberis Finance

Product: Loan
Eligibility: Check their eligibility criteria here
Size: £50,001 – £150,000
Duration: 12 or 24 months
Application: Sign up here

Market Finance

Product: Loan, invoice finance
Eligibility: Check their eligibility criteria here
Size: £50,001 – £150,000
Duration: 6 months to 6 years
Application: Register your interest here

Paragon Bank

Product: Asset finance, loan
Eligibility: Standard CBILS criteria
Size: Up to £500,000
Duration: Up to 60 months
Application: Paragon Bank are yet to release their application.

Scania Financial Services

Product: Asset finance
Eligibility: Check their eligibility criteria here
Size: £50,001 – £150,000
Duration: 12 to 72 months
Application: Request a call back here

Social Investment Business

Social Investment Business are yet to announce details of how they plan to deliver CBILS.

ThinCats

Product: Loans
Eligibility: Existing customers only
Size: £1m to £5m
Duration: Unknown
Application: Existing customers should contact their account manager.

Tower Leasing

Tower Leasing have not yet to announced details of how they plan to deliver CBILS.

TradeBridge

TradeBridge have not yet to announced details of how they plan to deliver CBILS.

Triodos Bank

Existing Triodos customers are being encouraged to contact their Relationships Manager by emailing contact@triodos.co.uk or calling 0330 355 0355.

Ultimate Finance

Product: Loan, invoice finance
Eligibility: Check their eligibility criteria here
Size: £50,001 – £500,000
Duration: 1 – 3 years
Application: Apply here

White Oak UK

Product: Loan
Eligibility: Check their eligibility criteria here
Size: £50,001 – £500,000
Duration: Up to 2 years
Application: Apply here

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Dan Smith is Content strategist lead at iwoca and editor of Insights. He's written for a number of publications such as The Guardian and WIRED on topics ranging from finance to sport.

Article updated on: 26 May 2020

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