Last updated: 15 October 2020
We will soon be able to offer term loan facilities from £250,000 to £5m through CBILS to existing business customers who have experienced lost or deferred revenues as a direct result of Covid-19.
As an accredited CBILS lender we will very soon be able to offer term loans to Shawbrook Bank business clients with existing debt facilities with us who have been directly impacted by Covid-19, as long as they are UK-based Limited companies with a group turnover of up to £45m. Please speak with your Relationship Manager to find out more or come back here for regular updates.
To find out more about the Scheme you can also explore the Frequently Asked Questions below or complete the short enquiry form at the bottom of this page.
The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit british-business-bank.co.uk
Managed by the British Business Bank, the Coronavirus Business Interruption Loan Scheme (CBILS), delivered by British Business Bank Bank accredited lenders and partners, like Shawbrook, is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. The scheme enables lenders to provide facilities of up to £5m to smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. It supports a wide range of business finance products, including term loans, overdrafts, invoice finance and asset finance facilities. At Shawbrook, we have been accredited to provide term loans through the Scheme.
We can offer a term loan of between £250,000 and £5m over a period of 1-3 years, with a repayment profile designed to minimise immediate cash strain, to existing Shawbrook business customers who meet the eligibility criteria of the Scheme. Funds must be deployed to support trading primarily in the UK.
Any applicant for a Shawbrook Bank CBILS loan must meet the following criteria:
Businesses from any sector can apply, except the following: Banks, insurers and reinsurers (but not insurance brokers); public-sector bodies; and state-funded primary and secondary schools.
The term loan is underwritten and provided by Shawbrook and will incur interest and a documentation fee. The documentation fee and first 12 months’ interest can be paid by the Government by way of a Business Interruption Payment (‘BIP’) made to us on your behalf. Further information and terms will be provided in a specific BIP offer letter.
The Government has introduced a ‘Business Interruption Payment’ (BIP) option, whereby the first 12 months of interest on the loan and some upfront fees are paid by the Government. This option is available on request and details are supplied on application for the term loan.
The Government also provides Shawbrook with a guarantee to protect 80% of the outstanding loan balance, which incurs a fee payable by Shawbrook. As with any other commercial transaction the borrower is always responsible for repaying 100% of the value of any facility supported by CBILS.
The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS). British Business Bank plc is wholly owned by HM Government and is not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). Full details on CBILS and the list of participating CBILS lenders can be found on the British Business Bank website.
Our ability to provide these loans is dependent on us receiving a guarantee from the UK Government under the Coronavirus Business Interruption Loan Scheme (CBILS). The guarantee provides us with a partial guarantee, should you default on repaying this loan.
The CBILS guarantee is provided to your lender and not to you. You remain responsible for repaying 100% of your loan.
The British Business Bank is 100% Government owned, but independently managed. It brings expertise and Government money to the smaller business finance markets. The British Business Bank does not lend or invest directly, but instead works with over 130 partners such as Shawbrook and other banks, leasing companies, venture capital funds and web-based platforms. Find out more on the British Business Bank website.
If your business meets all the eligibility criteria, then the first step is to contact your Relationship Manager or complete the CBILS Enquiry Form.
To register your interest in applying for a CBILS facility from Shawbrook, please first review and confirm your company meets the following eligibility criteria:
For your safety, please do not send security details such as passwords by email.
Fields marked with an asterisk are mandatory.