Coronavirus Business Interruption Loan Scheme (CBILS)

We’re pleased to announce that Leumi ABL has been formally accredited by the British Business Bank (BBB) for the Coronavirus Business Interruption Loan Scheme (CBILS).

We are now able to support both existing and new clients across the UK during this challenging time with CBILS term loans, revolving credit and invoice finance top-up facilities.

 

Under the scheme, we can offer additional loans from £1,000 to £5,000,000, which are 80% backed by a Government guarantee that is made available to the lender.  As with any commercial transaction, the borrower is always responsible for repayment of the full amount of any facility supported by CBILS.  Please note that we are not able to offer CBILS facilities on a standalone basis – these can only be used in conjunction with other Leumi ABL facilities.

Is my business eligible?

If you can answer “yes” to the following questions, then you may be eligible for a CBILS loan:

  1. Are you a UK-based SME with annual turnover of up to £45m?
  2. Is the CBILS loan required for business purposes, and has the business been adversely impacted by the Coronavirus (COVID-19)?
  3. Does your business generate more than 50% of its turnover from trading activity?
  4. Will the CBILS-backed facility be primarily used to support trading in the UK?
  5. Can you demonstrate that you have a viable business proposition, which can be assessed as part of Leumi ABL’s usual lending criteria?

If you believe that your business meets the above criteria, we would be delighted to discuss further with you, and to outline the full details of the CBILS eligibility criteria (which can also be found on the British Business Bank’s website).

To discuss CBILS further:

Existing Leumi ABL clients – please call your Leumi ABL Client Manager

Potential new clients to Leumi ABL – please call your local Regional Sales Director. Click here for contact details.

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). Full details on CBILS and the list of participating CBILS Lenders can be found on the British Business Bank website at: www.british-business-bank.co.uk/CBILS