Applying for the Coronavirus Business Interruption Loan Scheme (CBILS)

Applying for the Coronavirus Business Interruption Loan Scheme (CBILS)

If you are thinking of seeking finance under the Government loan Guarantee scheme known as CBILS we recommend that you ensure the following documents are available where possible:

• A brief update on the performance of your business prior to the onset of the virus
• Published (ideally Accountant prepared) Accounts for the last three years
• Latest management accounts (Profit/Loss summary) – ideally for past 12 months
• 12 months cash flow projections, demonstrating the impact of the virus, a period of recovery and return to normal trading (including commentary on key risks and assumptions therein)
• Linked to above forecast an estimate of your total cash requirement over the next 12 months and the amount of borrowing you are seeking
• 12 months ‘business as usual’ cash flow projections
• Summary of Hire Purchase or third-party loan commitments (including current balances, repayment details and expiry dates)
• Description of the impact of coronavirus on the business and measures taken to mitigate against deferred/lost revenue
• The extent to which you have explored other areas of funding or Government support/relief (e.g. staff furloughing)

To help give you an idea of your viability for the scheme, please take a look at our flowchart – click here.

If you need assistance compiling the necessary information or data needed to support an application, please get in touch with us on 0330 088 1157 or email us.