CBILS - time for another look?

Following the Chancellor's recent announcement, business owners now have until Jan 31st to submit their application.

What does this mean for business owners?

A month long national lockdown and new set of restrictions. It's no secret that the current climate of uncertainty and new restrictions are likely to have a major impact on businesses.

If your business meets the basic criteria for this scheme - trading for 12 months, turnover greater than £250kbased in the UK and running an operation margin prior to Covid - and you think you may be eligible, CBILS might just provide the cash cushion needed to bolster your business over the next month and beyond.

Your circumstances may also have changed in recent months making this an option worth exploring.

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What are the benefits of CBILS?

  • Borrow between £50,001-£5m at rates between 2.5-9% up to a 10-year period
  • No repayments for the first 12 months
  • No personal guarantees are required for loans below £250k

Over 73,000 businesses have benefited from £17.16 billion of support through CBILS.

Initially when CBILS came out earlier this year, it was limited to the major banks so rejections were higher and application lead times were up to 6 weeks. However, a wider diversification in lenders and product types (term loans, asset, invoice) means that through our lending partners you have access to a:

  • Higher rate of acceptance
  • Greater range of options
  • Fast turnaround times from lenders (3-5 Days)
CBILS Lenders Overlap

Why Credit Passport®

We have partnered with some of the best companies in the UK that have seen over £1bn CBILS applications go through their systems, and you will have access to a team of experts who can litmus test your company so anyone who is eligible gets across to lenders quickly.

  • High rate of acceptance
  • Wide range of options
  • Fast turnaround times from lenders (3-5 Days)
  • Check online in minutes if you qualify for a CBILS business loan facility.
  • You are in control and we're here to help you. There is no pressure to go ahead.

How to apply?

To get started - click on the CBILS section in the Offers tab in your Credit Passport dashboard, or register for your FREE Credit Passport in just a few minutes to get access.

If you have more questions on CBILS, check our straight talking guide here.  

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to streamline your application